Authority: Appellate Authority under the Right to Information Act, 2005, Securities and Exchange Board of India

Order Date: July 16, 2026

Case Overview

The appeal was filed by Amol Prabhakar Khandave against the Central Public Information Officer (CPIO) of SEBI, Mumbai. The appellant had filed an RTI application on April 28, 2026, seeking detailed information about Octate Developers LLP's involvement in Sahara asset sales and related financial transactions. Specifically, the appellant requested: 1) Supreme Court orders or competent authority permissions including Octate Developers LLP as "Consenting Party" in property sale transactions; 2) Clarification on Octate Developers LLP's role, rights, and responsibilities in these transactions, along with any SEBI approvals granted; 3) Complete details of all amounts deposited into the Sahara-SEBI Relief Account from these sale transactions, including date-wise amounts, deposit dates, transaction numbers, bank details, and related internal notes/accounting information; 4) Information about any amounts paid by Octate Developers LLP for settlement of litigation related to these transactions, including payment details and approval orders available with SEBI; and 5) Details of any litigation filed by Octate Developers LLP regarding properties at Survey No. 10/1 and 10/2, Dhanori, Pune, including case numbers, courts/authorities involved, status, and certified copies of orders.

SEBI's CPIO responded on May 22, 2026, stating that according to available records, no information had been received from Sahara regarding the sale of properties at Survey No. 10/1 and 10/2 at Village-Dhanori, Taluka-Haveli, District Pune. Consequently, the information sought regarding queries 1 to 5, including any remittance of amounts into the SEBI-Sahara Refund Account from the sale of such properties, could not be ascertained or verified.

The appellant filed an appeal on June 12, 2026 (Registration No. SEBIH/A/P/26/00036), expressing dissatisfaction with SEBI's response. The Appellate Authority, after reviewing the application, response, and appeal, found that the respondent had adequately addressed the queries based on the information available with them.

Final Outcome

The Appellate Authority dismissed the appeal, finding no deficiency in SEBI's response and no need to interfere with the CPIO's decision. The appellant will not receive the requested information about Octate Developers LLP's role in Sahara asset sales or related financial transactions through this RTI process.

Topics: RTI Appeal, Sahara Assets, SEBI Compliance