Central Information Commission
Sundaresan vs Securities And Exchange Board Of India ... on 28 April, 2026
केन्द्रीय सूचना आयोग
Central Information Commission
बाबा गंगनाथ मागग, मुननरका
Baba Gangnath Marg, Munirka
नई निल्ली, New Delhi - 110067
नितीय अपील संख्या/Second Appeal No. CIC/SEBIH/A/2023/652922
Sundaresan ......अपीलकताग/Appellant
VERSUS
बनाम
CPIO: i) SEBI ....प्रनतवािीगण/Respondents
ii) IBBI
Date of Hearing : 27.04.2026
Date of Decision : 27.04.2026
Information Commissioner : Shri Surendra Singh Meena
Relevant Facts Emerging from Appeal:
RTI application : 03.09.2023
PIO replied on : 27.09.2023
First Appeal filed on : 08.10.2023
First Appeal Order on : 03.11.2023
2nd Appeal received on : Nil
CIC/SEBIH/A/2023/652922 Page 1 of 20
Information soughtand background of the case:
The Appellant filed an RTI application dated 03.09.2023 seeking information on the following points:
"PARA 1 SOUGHT 2 TO 7 ARE THE INFORMATION THOSE NOT IN SUO MOTTO DISCLOSURES SOUGHT ARE ALSO INFORMATION THE LAWS MAY BE COMPLIED ANNUAL REPORTS UNDER RTIA FROM SEBI TO CIC AND FROM CIC TO PARLIAMENT IS ALSO FAILURES IN MISLEADING ON THIS COUNT SUO MOTTO DISCLOSURES IS WILFUL DENIAL OF INFORMATION AND MAY BE FURNISHED OR UPLOADED AND INTIMATED TO ME I mention some of the emails addressed to [email protected] which along with mails trailing them are information of misconduct, information of auditors wilfully refusing to forewarn on insolvencies, fraud etc etc, information of auditors conspiring in fraud with auditees, information of auditors habitually doing so etc etc where the evidences have also been forwarded by me and in many cases such unlawful acts by auditors resulted in insolvencies and losses in insolvencies, and impossibilities in clawing back the losses in insolvencies due to auditors not forwarding us timely pursuant to their duties under eg Sec 143(3)(f), under Companies Audit Report Orders etc etc, copying modus operandi of fraud perpetrated by auditors of CPSUs by fraudsters in DHFL, extortion of fees by auditors etc etc etc (wherever required key matters have been highlighted in this font in the sub paras of this para below) - ATRs along with list of dates of significant events is ALSO the information sought ((at paras 1.1 to 1.17, dates of mails" and the contents / extracts from the contents of CIC/SEBIH/A/2023/652922 Page 2 of 20 the header to those mails and other relevant details including key matters wherever required have been mentioned) 1.1) Mail dt 4.8.2023 on "In continuation of my mail dt 4.8.2023 on audit reports etc fraudulently and deceitfully misrepresented as meeting requirements of law - audit committee, CAG, Registrar of Companies, Ministry Corporate Affairs and Central Information Commission not acting etc etc وcorporate failures net worth wipe outs insolvencies losses in insolvencies, AGM fraud, undue advantages to beneficiaries of AGM fraud including to personal guarantors of corporate borrowers, role of auditors, secretarial auditors, public servants etc in these and suppression of these in annual reports to Parliament "
1.2) Mail dt 26.1.2023 on Kindly see attached file on extortion and paras 66 to 79A of the pdf file on extortion of fees by auditors of yes bank and DHFL etc and also see CIC/SFIVO/A/2022/661795 and others and -- hike in audit fee yes bank and DHFL etc and no need for ordering re-audit and audit reports not reporting on adverse matters and no ATR on action against auditors repeatedly misconducting auditors public servants etc favoured and aspersions casted against me Re: ATR on Yes Bank and other fraud refused by MOCAF, RBI, DOFSR etc thanks to Presiding officers CIC - not mentioned in annual reports SEBI 2019-20., 2020-21, 2021-22, annual reports Ministry Labour / CPFC/ Ministry Corporate Affairs / RBI/RTIA etc etc -- misleading annual reports to parliament and untrue declarations knowingly and wilfully made - unreliable auditors, untrustworthy legal aid counsels, unbankable bankers, unreliable regulators, unreliable CIC/SEBIH/A/2023/652922 Page 3 of 20 watchdogs, conspiring CAG and conspiring public servants etc etc - conspire"
1.3) Mail dt 13.3.2023 on "mentioning various common types of AGM fraud) ATRS on misconduct etc etc and on fraud etc 1.4) Mail dt 30.3.2023 on " Re: Audit standard fraud, secretarial audit report fraud , Board Report fraud and annual report to Parliament fraud all raised for the first time and in addition also raised is association of legal aid counsels in perpetuating these frauds and legal aid counsels suppressing my attempts to prevent accounting standard fraud in 1989"
1.5) mail dt 13.4.2023 on " misconduct; An auditor once perpetrating such fraud will have a track record of such fraud and gets emboldened to perpetrate such fraud habitually in absolute confidence more particularly when Ministry Corporate Affairs, SEBI etc do not act. Not only that -- organisations, their 100% shareholders, their auditors etc etc become habitual perpetrators of fraud central information commission, CAG, legal aid counsels, public servants so perpetuate fraud and place false and misleading annual reports to Parliament to cover up their fraud and that too habitually. Auditors so perpetrating fraud also come in the way of those in finance and others from identifying optimal avenues of revenue generation of organisations"
1.6) mail dt 7.5.2023, "SINCE 1990S I AM EVIDENCING UNLAWFUL ACTS BY ICAI NOW I AM NOTING THAT EVEN ICSI IS NOT ATTENDING ON INFORMATION OF MISCONDUCT -- AUDIT STANDARD FRAUD, SECRETARIAL AUDIT REPORT FRAUD AUDIT REPORT FRAUD, CAG REPORT FRAUD, ANNUAL REPORT TO PARLIAMENT FRAUD EVEN LEGAL AID COUNSELS CIC/SEBIH/A/2023/652922 Page 4 of 20 ISSUE FRAUDULENT LEGAL OPINIONS TO PERPETUATE AGM FRAUD AND NALSA DOES NOT ACT -I DO NOT HAVE B AR COUNCIL REGISTRATION NUMBERS OF THE COUNSELS TO COMPLAIN PRESIDING OFFICERS CENTRAL INFORMATION COMMISSION CONSPIRE WITH CPIO ICAI AND OTHER CPIOS - COMPLAINING ALL THESE TO LOKPAL WILL TAKE TIME - JUST SEE THE EXCUSES ICAI TRIES TO MAKE FOR NOT ACTING ON COMPLAINTS - FIRST IT WILL CAST PERVERSE ASPERSIONS AGAINST ME ETC ETC - present complaint in pipeline to Lokpal, mail forwarded in the hope that recipients will act"
1.7) mail dt 3.5.2023 on "approval of adverse and disclaimed audit reports at AGM including by lenders holding equity shares and its implications"
1.8) mail dt 5.5.2023 on, "many matters of misconduct have been informed to Discipline Director ICSI. No reference numbers are allotted on receipt of such mails and of course no action taken"
1.9) mail dt 16.5.2023 on "While ICAI and its indiscipline directors may take their one time in responding to my queries as regulators of ICAI and ICSI Ministry Corporate Affairs may also offer its comments considering that in all cases where ICAI and ICSI have not acted on information of misconduct there has been AGM fraud and losses in insolvencies, failure in recovering amounts from adverse and clawable contracts - considering that petitions nos 2, 3 and 4 has been suppressed by paid public servants of Ministry Corporate Affairs in conspiracy with paid public servants and indiscipline directors C PIO and FAA of ICAI and paid public servants of CIC and CIC/SEBIH/A/2023/652922 Page 5 of 20 others and deceptive fraudulent and misleading annual reports placed before parliament in several judicial proceedings including CICCAGINA2017606072, CIC-SCOFI-A-2017-
CICNRAMCA2017605185, CICMOCAFA2017606909
149469, CIC-SCOFI-A-2017-182061,
CIC/ICAOI/A/2017/607028, cic/mocaf/a/2017/606965,
cic/mocaf/a/2018/622124,. CI"
1.10) mail dt 16.5.2023 on "Deficiencies in working of RBI, IRDA, SEBI, Ministry Corporate Affairs and Finance, CAG, ICAI, ICSI etc according undue advantages to fraudsters"
1.11) mail dt 4.6.2023 on "What I meant to emphasize is that auditors, secretarial auditors, branch auditors for several reasons mostly malefic do not even verify if their appointment is in order in full awareness that ICAI, Ministry Corporate Affairs, RBI, SEBI etc etc will just not look into these matters as they are preoccupied with casting aspersions on me and according undue advantages"
1.12) mail dt 28.6.2023 on "Interface of Art 51A of our Constitution, Sec 4 Legal Services Authorities Act, Sec 129, 130, 134, 143, 447 and other relevant provisions of Companies Act 2013 Sick Industrial Companies Special Provisions Act, Right to Information Act, IBC etc etc including areas wilfully ignored by Ministry Corporate Affairs, ICAI, SEBI, IBBI etc and not reported in annual reports financial statements Board Reports not meeting the requirements of law or affairs of the company were mismanaged and casting doubt on management of affairs overstatement of net worth and income tax liability, adverse audit reports etc etc etc details in petitions after receipt of certified copies from Hon'ble High Court Guwahati - ATRS pending from NALSA CIC/SEBIH/A/2023/652922 Page 6 of 20 1.13) mail dt 7.8.2023 on "The problems of IBC (including that of SICA 1985 replaced by IBC and including of Securitisation Act) is losses in insolvencies, identification of clawable contracts transactions and arrangements successful and timely identification and clawing of clawable contracts transactions and arrangements, delay in resolutions, inabilities to work out a mechanism for continuing with clawing and equitable distribution simultaneous proceedings not commenced against corporate and personal guarantors etc etc.---- and how to resolve them "
1.14) mail dt 9.8.2023 on "Re: In continuation of problems of IBC (including that of SICA 1985 replaced by IBC and including of Securitization Act) - now on recommendations of Company Law Committee and formats of annual reports under RTIA, SEBI Act and IBC many of these can be explained with live examples of how I discharged my duties to make perpetration of AGM fraud impossible statement of objects and reasons of Chartered Accountants Cost Accountants Company Secretaries Amendment Act 2022 ignored the following (see para 4) how SCLSC, ICAI, Ministry Corporate Affairs and others suppressed my petitions on ultra vires delegated laws etc
-several of the matters stated in trailing mail dt 8.8.2023 are associated in perpetrating AGM by authorized representative of President of India where I had made it impossible to perpetrate AGM fraud - some or several are still associated in perpetration of AGM fraud even now"
1.15) mail dt 14.8.2023 on "RE: Clarification; para 3.3 At pages 198 and 199 of the said ANNUAL REPORT we have atleast 3 instances of wilful suppression of material information which SEBI is duty bound to report to Parliament. How many CIC/SEBIH/A/2023/652922 Page 7 of 20 more wilful suppressions etc etc -- how do I know I need not emphasize once more the importance of NALSA discharging its duties" - wilful suppressions in annual reports of SEBI to Parliament on diversion of funds by mutual funds and subsequent misappropriation and / or diversion in very likely Yes Bank 1.16) mail dt 15.8.2023 on Some wilful suppressions in ANNUAL REPORTs of SEBI relating to diversion of funds by mutual funds mandated by SEBI annual report rules to be reported in annual reports of SEBI suppressed in the said annual reports now reported to Hon'ble CJI cum Hon'ble Patron in Chief of both NALSA and SCLSC -- NALSA and its duties and other unlawful acts of public servants -- this matter was not complained to Lokpal in complaints on misleading annual reports to Parliament under various laws -- In addition to auditors, secretarial auditors, CAG, directors, audit committee and others and may be cost auditors not reporting on fraud and diversion of funds, even SEBI, IBBI etc etc do not report. unlawful acts are associated with my service petition fraudulently suppressed by legal aid counsels and by others at SCLSC fabricating my income etc NALSA, legal aid and access to justice and other unlawful acts --Such suppression of unlawful acts and diversion of funds were not the su"
1.17) mail dt 17.8.2023 on "ANNUAL REPORT 2022-23 SEBI does not report on Orders dt 2.3.2023 in Writ Petition (C) No. 162 of 2023 (Vishal Tewari V UOI) and Writ Petition (Crl) No. 39 of 2023 With Writ Petition (C) No. 201 of 2023 And With Writ Petition (Crl) No. 57 of 2023 also annual reports for 2022- 23 and earlier years not noted to report on price fluctuations due to NSE colocation, on regulatory coordination where eg CIC/SEBIH/A/2023/652922 Page 8 of 20 NFRA evidenced fraud -also does not report on predatory overpricing and drastic falls in values post closing of subscriptions and post listing nexus between various annual reports who can conspire in annual reports of SEBI and how entire Lokpal missed the same and nexus of this with NALSA failing to discharge its duties eg to do all things necessary for the purpose of ensuring commitment to the fundamental duties of citizens under Part IVA of the Constitution; Sec 4(h) Legal Services Authorities Act ---- Annual Reports of CIC ;;;; All the matters at paras 1 to 8 of my trailing mail dt 7.8.2023 are matters on which the CIC must furnish in annual reports "recommendations for reform, including recommendations in respect of the particular public authorities, for the development, improvement, modernisation, reform or amendment to this Act or other legislation or common law or any other matter relevant for operationalising the right to access information." more particularly as they deal with wilful refusal to inform and furnish evidence on audit report fraud, Board Report fraud, CAG report fraud, accounts fraud, AGM fraud, losses in insolvencies etc There is a nexus between misleading annual reports to Parliament and NALSA discharging its duties, Lokpal 's need to understand conspiracies in SEBI's annual reports, nexuses between various annual reports -- I have explained some nexuses at para 9
2) We now go to SEBI | RTI ACT, 2005 https://www.sebi.gov.in/rti-
act-2005.html. Being SUO MOTTO DISCLOSURES UNDER RTIA 2.1) Pls make particulars of organisation simple and in few paragraphs without making the reader navigate to several pages by the end of which he gets confused CIC/SEBIH/A/2023/652922 Page 9 of 20 2.2) in powers and functions of SEBI why attach the whole act select the relevant provisions and place them 2.3) why attach the whole of "Securities and Exchange Board of India (Employees' Service) Regulations, 2001 [Last amended on August 05, 2020]" - just exhibit relevant extracts in a simple form 2.4) under "The procedure followed in the decision making process, including channels of supervision and accountability "the organisations chart is only disclosed? Is RTIA a joke? 2.5) Norms set by SEBI for the discharge of its functions "does not disclose public grievances against SEBI who is a public authority 2.6) also "Statement of Categories of Documents that are held by SEBI or under its Control" pls make out a complete list eg documents filed with SEBI etc etc 2.7) Pls verify the missing matters under suo motto disclosures and do the needful eg monthly remuneration etc etc
3) Complete minutes, agenda papers etc in respect of Meetings of Board of SEBI on placement of annual reports of SEBI for 2020-21, 2021-22 and 2022-23, including indicating , names of those who attended, who voted for, who voted against, who proposed, who seconded etc etc, who abstained, who insisted his dissent be recorded and if the same was recorded names and names of nominators of members of the Board may be mentioned separately if not mentioned in the minutes (eg the nominators include Ministry Corporate Affairs, RBI, Central Govt. In particular with respect to mandated contents of annual reports requiring interactions and / or coordination with Ministry Corporate Affairs, RBI and others, the views of the nominees of the said organisations on the agenda papers if recorded in the CIC/SEBIH/A/2023/652922 Page 10 of 20 minutes may also be forwarded. Any interest disclosed if any on the matter of annual report is also the information sought.
4) Various authorities eg SFIO, ED, Economic Offence Wing of several police establishments, CBI, SEBI, Ministry Corporate Affairs, Revenue authorities (income tax and GST) and several others are reported to have acted against delinquents- any action taken in these matters by SEBI against auditors, secretarial auditors, audit committee, directors and others or referred by SEBI to ICAI, ICSI, Ministry Corporate Affairs. ATRs along with list of dates of significant events is ALSO the information sought indicating the names of culprits. Any references made to others by SEBI and action taken by those to whom they were referred by SEBI and sub sequent action by SEBI in this matter. ATRs along with list of dates of significant events is ALSO the information sought
5) NFRA has issued several orders and review reports any action taken in these matters by SEBI against auditors, secretarial auditors, audit committee, directors and others or referred by SEBI to ICAI, ICSI, Ministry Corporate Affairs ATRs along with list of dates of significant events is ALSO the information sought indicating the names of culprits. Any references made to others by SEBI and action taken by those to whom they were referred by SEBI and sub sequent action by SEBI in this matter. ATRs along with list of dates of significant events is ALSO the information sought
6) Any matters referred by IBBI to SEBI and A TR ATRs along with list of dates of significant events is ALSO the information sought. Any references made to others by SEBI and action taken by those to whom they were referred by SEBI and sub sequent action by SEBI in CIC/SEBIH/A/2023/652922 Page 11 of 20 this matter ATRs along with list of dates of significant events is ALSO the information sought
7) In addition to the above have any of the following matters been referred to ICAI or NFRA or Ministry Corporate Affairs or SFIO or ED or CBI or others by SEBI or others or referred to SEBI by them and ATR with list of dates on which significant events and milestones occurred;
7.1) Placing adverse audit reports at AGM and approving the same with or without creating adverse clawable interests insolvencies and losses in insolvencies.
7.2) Placing disclaimed audit reports at AGM and approving the same with or without creating adverse clawable interests and insolvencies and losses in insolvencies.
7.3) Misstating adverse reports as disclaimer reports placing them at AGM with or without creating adverse clawable interests insolvencies and losses in insolvencies. 7.4) Misstating adverse / disclaimed audit reports as qualified / simpliciter qualified audit reports placing them at AGM with or without creating adverse clawable interests and insolvencies and losses in insolvencies.
7.5) Misstating adverse / disclaimed / qualified / simpliciter qualified audit reports as audit reports merely modified by emphasis of matter para with or without creating adverse clawable interests insolvencies and losses in insolvencies. 7.6) Adverse / disclaimed / qualified / simpliciter qualified reports misstated as unqualified reports without emphasis of matter para with or without creating adverse clawable interests and insolvencies and losses in insolvencies.
CIC/SEBIH/A/2023/652922 Page 12 of 207.7) Audit reports and CAG reports and secretarial audit reports and corporate governance reports and corporate governance audit reports suppressing adverse matters and suppressing fraud and unlawful acts and suppressing maintenance of false books of accounts with or without creating adverse clawable interests and insolvencies and losses in insolvencies.
7.8) Audit reports and CAG reports wilfully suppressing inconsistencies between audit and secretarial audit reports and CAG reports and Board Reports with or without creating adverse clawable interests and insolvencies and losses in insolvencies 7.9) Board Reports not offering explanations on remarks of auditors with or without creating adverse clawable interests and insolvencies and losses in insolvencies 7.10) Board Reports not offering explanations on remarks of auditors and in addition stating that audit reports and secretarial audit reports contain no qualification with or without creating adverse clawable interests and insolvencies and losses in insolvencies and suppression of these in audit reports , secretarial audit reports and other reports 7.11) Accounting standard fraud, audit standard fraud, directors responsibility statement fraud, audit report fraud, CAG reports fraud, secretarial audit report fraud, Board Report fraud with or without creating adverse clawable interests and insolvencies and losses in insolvencies 7.12) Board of Directors unable to install a system for identifying threats to the existence of the organization with or without failure and / or refusal to install internal audit and / or internal control systems with or without creating adverse CIC/SEBIH/A/2023/652922 Page 13 of 20 clawable interests and insolvencies and losses in insolvencies and suppression of this fact in audit report, CAG report 7.13) Auditors, secretarial auditors, CAG, Directors suppressing the fact that accounts cannot offer a true and fair view and are unreliable on account of unreliable opening balances as the audit reports were adverse and/or disclaimers. 7.14) Board of Directors, audit committee not going in for restatement and recasting of accounts and auditors and CAG not reporting this deficiency with or without creating adverse clawable interests and insolvencies and losses in insolvencies 7.15) Inconsistencies between auditors reports and various schedules to the audit reports, board reports, secretarial audit reports, CAG reports, accounting policies and accounts with or without creating adverse clawable interests and insolvencies and losses in insolvencies 7.16) Accommodation, lending etc made without any repayment tenure and schedule and repayable at option of borrower or when demanded by lender ( whether parties are related or not) not reported as adverse by auditors of lenders / accommodators whether or not creating adverse clawable interests and insolvencies and losses in insolvencies and suppression of this fact in audit report, CAG report 7.17) where the beneficiaries of clawable and similar contracts reportable under CARO or otherwise are personal guarantors or their related parties with or without creating adverse clawable interests and insolvencies and losses in insolvencies."
The CPIO replied vide letter dated 27.09.2023 and the same is reproduced as under:-
CIC/SEBIH/A/2023/652922 Page 14 of 20"Reply to Query 1 (1.1 to 1.17):
Standard reply was provided for lodging complaint on SCORES to your email ID at [email protected].
With regard to query 1.3 and 1.4, Emails were examined. No further action proposed.
Reply to Query 2:
Your query is in the nature of seeking action from SEBI. Hence, the same cannot be construed as "information", as defined u/s 2(f) of the RTI Act, 2005.
Reply to Query 3 to 7:
Your queries are vague and not specific. Accordingly, the same cannot be construed as "information", as defined u/s 2(f) of the RTI Act, 2005.
The information sought by you is not maintained by SEBI in normal course of regulation of securities market."
Dissatisfied with the response received from the CPIO, the Appellant filed a First Appeal dated 08.10.2023. The FAA vide order dated 03.11.2023 stated as under:-
"Reply of the Respondent to Query 1 - The respondent, vide letter dated September 27, 2023, informed the appellant that with regard to his emails listed in query No. 1.1 1.17, Securities and Exchange Board of India (hereinafter referred to as "SEBI" had provided its reply to him and advised him to lodge his complaints on SCORES. Further, with respect to emails mentioned in his query no. 1.3 and 1.4, the respondent informed that the same were examined by SEBI and no further action was proposed.CIC/SEBIH/A/2023/652922 Page 15 of 20
Reply of the Respondent to Query 2 - The respondent, vide letter dated September 27, 2023, informed the appellant that his query is in the nature of seeking action from SEBI. Hence, the same cannot be construed as "information", as defined u/s 2(f) of the RTI Act, 2005.
I have perused the query and the response provided thereto. On consideration, I concur with the response of the respondent that the said query of the appellant is more in the nature of suggestions and seeking action from SEBI. In this context, I note that in the matter of Dr. D. V. Rav vs Shri Yashwant Singh & Anr. (Order dated April 21, 2006), Hon'ble Central Information Commission (hereinafter referred to as "CIC") in held that "It is not open to an appellant to ask, in the guise of seeking information, questions to the public authorities about the nature and quality of their actions. The RTI Act does not cast on the public authority any obligation to answer queries, as in this case, in which a petitioner attempts to elicit answers to his questions with prefixes, such as, why, what, when and whether. The petitioner's right extends only to seeking information as defined in Section 2(f) either by pinpointing the file, document, paper or record, etc., or by mentioning the type of information as may be available with the specified public authority."
Reply of the Respondent to Query 3 to 7 - In response to the query 3 to 7, the respondent, vide letter September 27, 2023 informed that the queries are vague and not specific. Accordingly, the same cannot be construed as "Information", as defined u/s 2(f) of the RTI Act, 2005. The respondent further informed that the information sought is not maintained by SEBI in normal course of regulation of securities market.
I have perused the queries and the response provided thereto. As regard query No. 3, I note that the appellant has specifically sought CIC/SEBIH/A/2023/652922 Page 16 of 20 information pertaining to minutes of the SEBI Board meetings and agenda papers regarding annual reports of certain specific years. On consideration, I find that the aforesaid query has not been adequately addressed by the respondent and the same warrants reconsideration.
As regard queries No. 4 to 7, I concur with the response of the respondent that the said queries are vague and not specific. Further, I note that the requested information is not readily available with the respondent in the manner as sought by the appellant and that the respondent would be required to analyze and collate information which is maintained in separate individual files placed at multiple locations. In my opinion, analyzing and collating would disproportionately divert the resources of SEBI and would defeat 'the practical regime of right to information as envisaged in the preamble of the RTI Act. In this context, I note that the Hon'ble CIC, in the matter of Mr. Deepak Girdhar vs. CPIO, SEBI (Order dated March 30, 2021), observed that "6. The Commission, after hearing the submissions of the respondent and after perusal of records, observes that the information sought by the appellant is voluminous in nature and may not be readily available with the CPIO in the manner as sought by the appellant, collating and compiling of which would disproportionately divert the resources of the respondent organization. Hence, the disclosure of information is exempted as per Section 7(9) of the RTI Act." In view of these observations, I find that the requested information is exempt from disclosure under section 7(9) of the RTI Act.
Considering the above observations, I remit the application to the respondent for de novo consideration of Query no. 3 and sending appropriate response to the appellant in terms of RTI Act, within 15 working days from the date of receipt of this order.
CIC/SEBIH/A/2023/652922 Page 17 of 20The Appeal is accordingly disposed of."
Aggrieved and dissatisfied, the Appellant approached the Commission with the instant Second Appeal.
Facts emerging in Course of Hearing:
The appellant was present through video conference.
The respondent Ms. Komal Sundaresan, AGM, (SEBI) was present through video conference and Mr. Rajesh Kumar, G.M, (IBBI) was present in- person.
The appellant inter alia submitted that the information sought on point no. 2 to 7 of the RTI application were not provided by the respondent. The appellant further submitted that records/documents provided on point no. 3 is contradictory to the documents available on the respondent's website.
The respondent also stated that the information sought on point no. 4 to 7, was wrongly denied u/s 2 (f) of the RTI Act as he had sought records of the respondent. The appellant also stated that on the above said points he had sought action taken report along with list of dates of significant events, against auditors, audit committee, directors etc,.
The respondent while defending their case inter alia submitted that the reply was provided to the RTI application vide letter dated 27.09.2023. The respondent further submitted that information sought on point no. 4 to 7 were vague and not specific, hence denied u/s 2 (f) of the RTI Act. When queried by the Commission how the records and action taken by the respondent against auditors audit committee, directors etc, and ATR with list of dates matters were referred to ICAI, NFRA or Ministry of Corporate Affair etc,. as sought on the above said point can be denied u/s 2 (f) of the RTI Act, the respondent submitted that the appellant did not mention the time period in the RTI application, hence denied u/s 2 (f) of the RTI Act CIC/SEBIH/A/2023/652922 Page 18 of 20 The Commission observed that the reply provided by the respondent vide letter dated 27.09.2023 is not appropriate as information sought on point no. 4 to 7 was not provided. The respondent during hearing submitted she will revisit the RTI application and provided available information to the appellant, in the reply.
Decision:
In the light of the above, the respondent is directed to provide revised reply to the appellant, within three weeks after receipt of this order. With this direction, the appeal is disposed.
Sd (Surendra Singh Meena) (सुरेंद्र ससिंह मीना) Information Commissioner (सूचना आयुक्त) निनां क/Date: 27.04.2026 Authenticated true copy Ramesh Babu Krishnan (रमेश बाबू कृष्णन) Dy. Registrar (उप पंजीयक) 011-26105027 Addresses of the parties:
1. Sundaresan CIC/SEBIH/A/2023/652922 Page 19 of 20
2. The CPIO Securities and Exchange Board of India (SEBI) Head Office (Mumbai): SEBI Bhavan, Plot No. C4-A, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051
3. The CPIO Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Shankar Market, Connaught Circus, New Delhi --110001 CIC/SEBIH/A/2023/652922 Page 20 of 20 Recomendation(s) to PA under section 25(5) of the RTI Act, 2005:-
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