Appeal No. 3925 of 2020 filed by Sherry Ashok

This appeal concerns an RTI application filed by Sherry Ashok seeking information about SEBI's approval of NACH agreements used by mutual fund distributors. SEBI's Central Public Information Officer (CPIO) stated that SEBI has not approved any such NACH format and that information on mutual fund distributors is maintained by the Association of Mutual Funds in India, not SEBI. The CPIO also deemed the request for "any other available information/approval" as unclear and not falling under the definition of "information" as per the RTI Act.

BEFORE THE APPELLATE AUTHORITY
(Under the Right to Information Act, 2005)
SECURITIES AND EXCHANGE BOARD OF INDIA
 

Appeal No. 3925 of 2020
 

Sherry Ashok : Appellant
Vs.
CPIO, SEBI, Mumbai : Respondent

ORDER

1. The appellant had filed an application dated June 12, 2020 (received by SEBI on July 01, 2020) under the Right to Information Act, 2005 (“RTI Act”). The respondent, by a letter dated July 14, 2020, responded to the application filed by the appellant. The appellant filed an appeal dated September 14, 2020 (received by the Office of Appellate Authority on September 22, 2020), against the said response dated July 14, 2020 (received by the appellant on September 09, 2020). I have carefully considered the application, the response and the appeal and find that the matter can be decided based on the material available on record.

2. Queries in the application –The appellant, vide his application dated June 12, 2020 sought the following information with respect to the copy of NACH agreement between a mutual fund distributor and its client, enclosed with the application:

A. Has SEBI approved the above NACH format with these provisions for use by mutual fund distributors?
B. If so a copy of the approval notification may kindly by provided.
C. Any other available information/approval on the issue of NACH may kindly be provided.

3. The respondent, in response to query numbers A and B, informed that SEBI has not approved any such NACH format. It was also informed that information with respect to Mutual Fund Distributors is not maintained by SEBI and that they are registered with Association of Mutual Funds of India. With respect to query number C, the respondent observed that the same is not clear and specific and accordingly,cannot be construed as seeking “information” as defined under section 2(f) of the RTI Act.

To know more in details find the attachment file