Authority: Appellate Authority under RTI Act, Securities and Exchange Board of India

Order Date: October 16, 2026

Case Overview

The appeal was filed by Bidish Das against the Central Public Information Officer (CPIO) of SEBI, Mumbai regarding Response to Query No. 2 in an RTI application dated August 30, 2026 (registered as Appeal No. 7111 of 2026 and SEBIH/A/E/26/00366). The appellant specifically sought a soft copy of the Sahara-SEBI Refund Account covering the period from Financial Year 2021-2022 through August 2026. The CPIO had denied this information via letter dated September 22, 2026, invoking Section 8(1)(j) of the RTI Act, stating that the information contained details of financial transactions of third parties constituting personal information. The appellant filed the appeal on September 27, 2026, contesting this denial as providing incomplete, misleading, or false information.

The Appellate Authority examined the matter and concurred with the CPIO's decision. The authority determined that the requested information indeed comprised financial transactions of third parties, qualifying as personal information under RTI regulations. The ruling emphasized that disclosure would cause an unwarranted invasion of individual privacy. The authority extensively referenced the Supreme Court of India's judgment in Central Public Information Officer, Supreme Court of India Vs. Subhash Chandra Agarwal (Civil Appeal Nos. 10044/2010, 10045/2010, and 2683/2010, decided November 13, 2019), which explicitly categorized details of investments, lending, borrowing, and financial transactions as protected personal information entitled to privacy protection under Section 8(1)(j) of the RTI Act.

Final Outcome

The appeal was dismissed, upholding the CPIO's decision to deny access to the Sahara-SEBI Refund Account details. The Appellate Authority found no grounds to interfere with the original decision, confirming that the information remains exempt from disclosure under privacy protection provisions of the RTI Act.

Topics: RTI Denial, Privacy Protection, Sahara Refund Account