Eliciting a clarification or opinion cannot be constructed as information u/s 2(f) of the RTI Act

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

Appeal No. 3924 of 2020

Vasant Shankarnarayan Rao : Appellant
Vs.
CPIO, SEBI, Mumbai : Respondent

ORDER

1. The appellant had filed an application dated June 29, 2020 (received by the respondent on July 13, 2020) under the Right to Information Act, 2005 (“RTI Act”). The respondent, by a letter dated August 05, 2020, responded to the application filed by the appellant. The appellant filed an appeal dated September 10, 2020 (received by the Office of Appellate Authority on September 22, 2020), against the said response dated August 05, 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 29, 2020, sought the following information:

1. Whether the transfer of shares in physical form by way of gift is also treated as transmission (i.e. transfer of title of shares by way of inheritance/ succession) as per clarification in PR No. 12/2019.

2. How many share holders in Karnataka Bank Limited (SIN No. …..) are holding shares in physical form. Please indicate number of shareholders and aggregate face value of shares held in physical form.

3. The respondent, in response to query number 1, observed that the same is in the nature of seeking clarification and does not fall under the definition of information under section 2(f) of the RTI Act. With respect to query number 2, the respondent informed that the requested information is not available with SEBI as the same is not maintained by SEBI in normal course of regulation of securities market.

4. Ground of appeal- On perusal of the appeal, it appears that the appellant is not satisfied with the response provided by the respondent. The appellant, in his appeal, sought copies of records, documents,memos, emails, advices, Circulars, logbooks etc. directly relating to the decision taken by SEBI Board under Section 2(f) of the RTI Act, 2005, leading to the issue of PR No. 12/2019. Additionally, the appellant also sought copy of Circular No. SEBI/HO/MIRSD/DO S3/CIR/P/2018/139 dated November 06, 2018. Further, the appellant submitted that the information should be available with the appellant.

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