The SEBI Appellate Authority is adjudicating Appeal No. 6840 of 2026 filed by Deepak Kasana against the Central Public Information Officer (CPIO), SEBI, Mumbai. The appeal arises from an RTI application dated March 23, 2026 in which the appellant sought extensive records relating to PDS Limited’s disclosures under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, covering the period from July 31, 2025 onwards.

Key Points

• Appellant Deepak Kasana filed an RTI application on March 23, 2026 seeking records related to PDS Limited and its subsidiary Poeticgem International Limited
• The CPIO responded by letter dated April 17, 2026; the appellant then filed this appeal (Reg. No. SEBIH/A/E/26/00139) on April 17, 2026
• Queries cover eight distinct categories of information including Regulation 30 disclosures, legal proceedings, forensic auditor engagement, and SEBI SCORES complaints
• Specific SCORES complaints referenced: SEBIE/HY26/GURG/005295/1 (dated February 6, 2026) and SEBIP/HY26/GURG/007006/1 (dated February 16, 2026)
• Appellant seeks records of a Civil Suit No. 126/2026 in Bangladesh (claim: approx. BDT 130 crore / ~INR 120 crore) involving PDS Limited
• Appellant seeks records of EOW Complaint OW No. 109/Unit-3/GC-1/EOW/PE No. 19-26
• PricewaterhouseCoopers was allegedly engaged as forensic investigator by PDS Limited on or around September 25, 2025
• Appellant also seeks any Show Cause Notices, examination orders, or adjudication notices issued by SEBI to PDS Limited or its directors/KMPs in connection with his complaints

Regulatory Changes

No regulatory changes are introduced by this order. This is a procedural RTI appellate matter adjudicated under the Right to Information Act, 2005.

Compliance Requirements

No new compliance requirements are imposed on market participants generally. The order pertains solely to SEBI’s obligation under the RTI Act to provide or withhold the requested information. PDS Limited is not directly a party to these RTI proceedings.

Important Dates

• March 23, 2026: Original RTI application filed by Deepak Kasana via RTI MIS portal
• April 17, 2026: CPIO, SEBI responded to the RTI application
• April 17, 2026: Appellant filed the present appeal (Reg. No. SEBIH/A/E/26/00139)
• July 31, 2025: Start of the period covered by the information requests
• September 25, 2025: Alleged date of PricewaterhouseCoopers engagement as forensic investigator by PDS Limited
• February 6, 2026: Date of SCORES Complaint No. SEBIE/HY26/GURG/005295/1
• February 16, 2026: Date of SCORES Complaint No. SEBIP/HY26/GURG/007006/1

Impact Assessment

This RTI appeal has limited direct market or regulatory impact. However, the underlying queries raise substantive governance concerns about PDS Limited, including alleged non-disclosure of material legal proceedings in Bangladesh, engagement of a forensic auditor, and whistleblowing incidents under Regulation 30 of SEBI LODR. If the Appellate Authority directs disclosure of the requested records, it could shed light on whether PDS Limited complied with its continuous disclosure obligations. Investors in PDS Limited should monitor the outcome of this appeal as it may reveal undisclosed material information about the company.

This is an order by SEBI’s Appellate Authority under the Right to Information Act, 2005, in Appeal No. 6841 of 2026 filed by Deepak Kasana against the CPIO, SEBI, Mumbai. The appellant sought extensive information relating to PDS Limited (NSE: PDS), including Regulation 30 LODR disclosures, records of legal proceedings in Bangladesh and India, forensic auditor engagements, financial results, and corporate governance filings. SEBI’s respondent clarified that Regulation 30 disclosures are filed directly with stock exchanges and are not maintained by SEBI in the ordinary course of business.

Key Points

• Appellant filed RTI application dated March 23, 2026 seeking information on PDS Limited’s regulatory disclosures and legal matters
• Information sought covered the period from July 31, 2025 to the date of the application
• Queries included Regulation 30 LODR intimations, legal proceedings (including Civil Suit No. 126/2026 in Bangladesh for ~BDT 130 crore and EOW Complaint), forensic auditor engagements, whistleblowing incidents, quarterly financial results (Q2 and Q3 FY 2025-26), and Corporate Governance Reports
• SEBI respondent responded on April 20, 2026; appellant filed this appeal on the same date (Reg. No. SEBIH/A/E/26/00140)
• For queries 1–4, 7, and 10, SEBI stated the information is not maintained by SEBI as Regulation 30 disclosures are filed directly with stock exchanges
• Appellants directed to refer to exchange websites (NSE) for such disclosures

Regulatory Changes

No regulatory changes introduced. This order reaffirms the existing framework that Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations requires listed entities to file disclosures directly with stock exchanges, not with SEBI.

Compliance Requirements

• No new compliance obligations arise from this order
• Confirms that parties seeking Regulation 30 disclosure records should approach the relevant stock exchange (NSE/BSE) rather than SEBI under RTI
• PDS Limited’s disclosure obligations under Regulation 30 LODR remain as prescribed by the existing regulatory framework

Important Dates

• March 23, 2026: Original RTI application filed by appellant
• April 20, 2026: SEBI respondent replied to the RTI application; appellant simultaneously filed this appeal
• Appeal Registration No.: SEBIH/A/E/26/00140
• Information period covered: July 31, 2025 to March 23, 2026

Impact Assessment

This order has minimal direct market or regulatory impact. It is an administrative RTI appellate proceeding concerning information access regarding PDS Limited. The order reinforces the jurisdictional boundary between SEBI and stock exchanges for Regulation 30 disclosure records. Investors or parties seeking disclosure compliance records for listed entities under Regulation 30 LODR should approach the respective stock exchange directly. No trading restrictions, penalties, or new obligations are imposed on PDS Limited or any other market participant.

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.