Description

RTI appellate order concerning information requests about PDS Limited's Regulation 30 LODR disclosures, board meeting outcomes, financial filings, and corporate governance reports on BSE for the period July 2025 onwards.

Summary

This order pertains to RTI Appeal No. 6842 of 2026 filed by Deepak Kasana before the Appellate Authority under the Right to Information Act, 2005 at SEBI. The appellant sought extensive information about PDS Limited (BSE Scrip: 541537) covering Regulation 30 LODR intimations, litigation disclosures, forensic auditor engagement, board meeting outcomes, financial results, and corporate governance filings for the period from July 31, 2025 onwards.

Key Points

  • Appellant Deepak Kasana filed an RTI application dated March 23, 2026 with SEBI through the RTI MIS portal
  • CPIO, SEBI, Mumbai responded via letter dated April 20, 2026
  • Appellant filed this appeal (Reg. No. SEBIH/A/E/26/00141) on April 20, 2026
  • The appeal involves 11+ detailed information requests concerning PDS Limited’s regulatory disclosures
  • The Appellate Authority is deciding the matter based on available records

Regulatory Changes

No regulatory changes are introduced by this order. It is an adjudicatory proceeding under the RTI Act, 2005 concerning SEBI’s information disclosure obligations.

Compliance Requirements

No new compliance requirements arise from this order for market participants. The order is confined to determining whether SEBI’s CPIO adequately responded to the appellant’s RTI application regarding PDS Limited’s filings on BSE. The information sought spans:

  • Regulation 30 LODR intimations filed by PDS Limited on BSE (July 31, 2025 to March 23, 2026)
  • Records relating to litigation including Civil Suit No. 126/2026 (Bangladesh, ~BDT 130 crore) and EOW Complaint OW No. 109/Unit-3/GC-1/EOW/PE No. 19-26
  • Engagement of forensic auditors or special investigators by PDS Limited
  • Whistleblowing incidents under PDS Limited’s Vigil Mechanism
  • BSE query letters to PDS Limited on Regulation 30 compliance
  • Market surveillance actions by BSE on PDS Limited (Scrip: 541537)
  • Board Meeting Outcome Notifications filed by PDS Limited
  • Quarterly financial results (Q2 and Q3 FY 2025-26) and Annual Report FY 2024-25
  • Auditor qualifications, emphasis of matter, or key audit matters related to litigation
  • Corporate Governance Reports filed by PDS Limited

Important Dates

  • March 23, 2026: Original RTI application filed by appellant
  • April 20, 2026: CPIO, SEBI responded to the RTI application
  • April 20, 2026: Appellant filed this appeal (Reg. No. SEBIH/A/E/26/00141)
  • Reference period for information sought: July 31, 2025 to March 23, 2026

Impact Assessment

This RTI appeal has minimal direct market impact. It is an administrative proceeding that signals investor scrutiny of PDS Limited’s regulatory disclosure practices under Regulation 30 of LODR. The breadth of the information sought — covering litigation in Bangladesh, EOW complaints, forensic audits, and whistleblowing — suggests heightened investor or public interest in PDS Limited’s corporate governance and compliance posture. No immediate action is required by listed companies or market intermediaries as a result of this order.

Impact Justification

This is an RTI appellate proceeding of an administrative nature. It has no direct market or regulatory compliance impact on broader market participants. It is relevant primarily to PDS Limited (BSE: 541537) as a transparency/disclosure matter.