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Appeal No. 3934 of 2020 filed by Dhanraj Bagrecha

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Court :
SEBI

Brief :
The appellant had filed an application dated July 16, 2020 (received by SEBI on July 22, 2020) under the Right to Information Act, 2005 (“RTI Act”). The respondent, by a letter dated August 14, 2020, responded to the application filed by the appellant. The appellant filed an appeal dated September 22, 2020 (received by the Office of Appellate Authority on October 02, 2020), against the said response dated August 14, 2020 (received by the respondent on September 08, 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.

Citation :
Appeal No. 3934 of 2020

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

Appeal No. 3934 of 2020

Dhanraj Bagrecha : Appellant
Vs.
CPIO, SEBI, Mumbai : Respondent

ORDER


1. The appellant had filed an application dated July 16, 2020 (received by SEBI on July 22, 2020) under the Right to Information Act, 2005 (“RTI Act”). The respondent, by a letter dated August 14, 2020,responded to the application filed by the appellant. The appellant filed an appeal dated September 22,2020 (received by the Office of Appellate Authority on October 02, 2020), against the said response dated August 14, 2020 (received by the respondent on September 08, 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, in his application dated July 16, 2020, has enclosed copies of various letters/complaints/correspondences regarding non-receipt of shares of Tata Consultancy Services Limited (TCS) and the dividend pertaining to those shares. The appellant has also stated the following-

1. Our two share certificates of 650 Tata Consultancy Services Limtied (TCS) shares must be released immediately so that we can dematerialize the same.
2. Our illegally detained dividend approx.. Rs. 1,60,000/- must be paid along with interest @15%
3. Due to illegally withholding, we were deprived from participating in Buy Back as well as Trading so atleast Rs. 10 Lakh must be immediately paid as opportunity loss.
4. For last more than 11 years we are mentally and economically harassed by TCS management and their RTA . A compensation of Rs. 10Lakh must be immediately paid.
5. In the matter we have incurred expenditure of approx.. Rs. 2 Lakh must be reimbursed.”

3. The respondent, in response to query numbers 1 and 2, informed that the there are 49 complaints lodged in SCORES against TCS, out of which 46 complaints are redressed successfully and 3 are pending with the company for its comments. The respondent also informed that it was stated by the company vide letter dated March 12, 2020, that the 325 equity shares of the company along with 325 bonus shares and the outstanding dividends will be released upon receipt of indemnity, duly complete in all respect. With respect to query numbers 3, 4 and 5, the respondent observed that no information was sought.

4. Grounds of appeal- On perusal of the appeal, it appears that the appellant is not satisfied with the response of the respondent. The appellant, in his appeal, has stated that his application was dated July 12,2020, instead of July 16, 2020 as mentioned in the impugned response. The appellant, in his appeal,stated that he had sought information regarding details of despatch from TCS E-Serve Ltd., copy of transfer deed and share certificate lodged by Mr. Sanjeeb Roy, Copy of application under Section 108(1) of the Companies Act, 1956, copy of any other correspondence of Mr. Sanjeeb Roy after 2011, certified copy of Court approved Scheme.

5. I have perused the material available on record and I find that the respondent had specifically provided response to the appellant’s application dated July 16, 2020, which was received by the respondent on July 22, 2020.

To know more in details find the attachment file
 

 

Guest
on 05 November 2020
Published in LAW
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