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

Order Date: September 02, 2026

Case Overview

The appeal was filed by Neha Jain against the CPIO, SEBI, Mumbai regarding an RTI application dated July 05, 2026. The appellant, claiming to be an affected investor representing her family, sought information about SEBI's investigation into The Good Choice Enterprises Pvt. Ltd. (CIN: U52190RJ2007PTC024622) for allegedly operating an illegal money collection scheme. The family claimed losses of ₹6,30,000 across seven accounts of ₹90,000 each, providing specific account details and transaction dates from September 2016.

The appellant specifically requested: (1) current status of SEBI's investigation, (2) actions taken to freeze bank accounts or seize assets of the company and its directors (Mr. Vimlesh Kumar Royal and Mr. Gursewak Singh Brar), (3) procedure for investors to file for refunds from recovered assets, (4) name and contact details of the SEBI officer/department handling the investigation, and (5) a copy of the investigation report or interim findings.

The respondent (CPIO, SEBI) had responded on August 03, 2026, stating that the information sought was in the nature of seeking clarification/opinion and could not be construed as "information" as defined under Section 2(f) of the RTI Act.

The Appellate Authority examined the application, response, and appeal, concluding that the queries indeed sought clarification and opinion rather than defined "information." The authority cited the precedent of Azad Singh vs. CPIO, Oriental Insurance Company Limited (order dated March 23, 2021), where the Central Information Commission observed that CPIOs are not required to create, interpret, or compile information as desired by applicants, but only communicate information based on existing records.

Final Outcome

The appeal was dismissed, upholding the CPIO's decision that SEBI had no obligation to provide the requested clarifications or opinions under the RTI Act. The appellant gains no additional information about the investigation status, asset recovery, or refund procedures through this RTI process.

Topics: RTI Process, Investor Protection