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

Order Date: November 06, 2026

Case Overview

The appeal was filed by Dhanni Devi Panwar against the CPIO, SEBI, Mumbai regarding an RTI application dated September 15, 2026 (received by SEBI on September 17, 2026). The appellant sought information regarding her outstanding payment status with PACL Ltd, specifically requesting to open her claim application option to submit receipts and documents for a payment of ₹14,850 against which she had received ₹329. The respondent (CPIO, SEBI) responded on September 29, 2026, stating that the requested information was not available with SEBI and directing the appellant to approach the Justice (Retd.) R.M. Lodha Committee for all refund-related communications. The appellant filed an appeal dated October 09, 2026 (Registration No. SEBIH/A/P/26/0076) expressing dissatisfaction with this response.

The Appellate Authority examined the application, response, and appeal materials. It noted that the CPIO correctly stated that SEBI does not possess the requested PACL investor refund data. The authority cited precedent from the Hon'ble Central Information Commission (CIC) in Sh. Pattipati Rama Murthy vs. CPIO, SEBI (July 8, 2013 decision) which established that a CPIO cannot invent information not in their possession.

The order clarified that the responsibility for disposal of PACL properties and repayment to investors lies exclusively with the Justice (Retd.) R.M. Lodha Committee, constituted pursuant to the Hon'ble Supreme Court of India's order dated February 2, 2016. The committee operates under the chairmanship of Hon'ble Mr. Justice R.M. Lodha, former Chief Justice of India. The respondent had additionally provided the appellant with links to access Status Reports, FAQs, Press Releases, and Public Notices pertaining to PACL Ltd. matters available on SEBI's website.

Final Outcome

The Appellate Authority found no deficiency in the CPIO's response and dismissed the appeal. The appellant remains directed to approach the Justice Lodha Committee for all matters related to PACL refund claims and status information.

Topics: RTI Appeal, PACL Refunds, Regulatory Jurisdiction