Case Details
- Entity Involved: Securities and Exchange Board of India (SEBI)
- Appellant: Dinesh Kumar
- Respondent: CPIO, SEBI, Mumbai
- Appeal No.: 6879 of 2026
- Order Date: June 09, 2026
- Appellate Authority: Ruchi Chojer, Appellate Authority under the RTI Act, Securities and Exchange Board of India
- Original RTI Application: Transferred by Department of Economic Affairs to SEBI on May 08, 2026
- SEBI Response Date: May 12, 2026
- Appeal Registration No.: SEBIH/A/E/26/00176 (filed May 13, 2026)
Persons Involved
- Dinesh Kumar - Appellant who filed the RTI application and subsequent appeal
- CPIO, SEBI, Mumbai - Respondent and Central Public Information Officer of SEBI
- Ruchi Chojer - Appellate Authority under the RTI Act at SEBI who issued the final order
Violations and Allegations
The appeal was filed on the ground that the appellant was refused access to the information requested in his RTI application. The appellant sought detailed information on eight specific queries related to:
1. Impact of international trading and global price movements of gold and silver on India's current account deficit, foreign exchange reserves, and domestic savings
2. Reports/notes/internal communications regarding regulation/restriction/suspension of international or speculative trading in gold and silver
3. Year-wise details of gold and silver import values for last five financial years and their contribution to current account deficit
4. Proposals regarding decoupling domestic gold and silver prices from international futures/derivative markets
5. Examination of role of international futures and derivative trading in price volatility of gold and silver in India
6. Consultations between Ministry of Finance, RBI, SEBI or other authorities regarding regulation of gold and silver trading or imports
7. Policy measures to reduce excessive diversion of household savings into gold and silver and promote investment in productive sectors
8. Department/division responsible for policy matters related to gold and silver trading and imports
Actions, Compliance and Future Obligations
SEBI's CPIO responded that:
- Queries 1, 2, and 7 were partially transferred to Reserve Bank of India on March 25, 2026 through RTI MIS online portal as these pertained to RBI
- Queries 3 and 8 were partially transferred to Ministry of Commerce under Section 6(3) of RTI Act on March 25, 2026 as these related to them
- Query 4 was considered in the nature of seeking clarification and cannot be construed as "information" as defined under Section 2(f) of RTI Act
- Queries 5 and 6: The requested information is not available with SEBI
Final Ruling and Enforcement
The Appellate Authority dismissed the appeal based on the following findings:
- For queries 1, 2, 3, 7, and 8: The information requested is not available with SEBI and was properly transferred to other public authorities (RBI and Ministry of Commerce) under Section 6(3) of RTI Act. SEBI can only provide information available in its records.
- For query 4: The query is in the nature of seeking clarification/confirmation and cannot be construed as seeking 'information' as defined under Section 2(f) of RTI Act. SEBI has no obligation to provide such clarification under RTI Act.
- For queries 5 and 6: The requested information is not available with SEBI, and the CPIO cannot invent information that is not in possession.
The Authority cited precedent cases including:
- Sh. Pattipati Rama Murthy vs. CPIO, SEBI (Decision dated July 8, 2013)
- Azad Singh vs. CPIO, Oriental Insurance Company Limited (order dated March 23, 2021)
The appeal was dismissed with no deficiency found in the respondent's actions, and no need to interfere with the decision of the respondent.