“Appellate Authority is of the opinion that no interference of this forum is warranted…”: SEBI, Part 1.

The appellate authority under the RTI (Right to Information) Act of the Securities and Exchange Board of India comprising of Mr. Anand Baiwar adjudicated in the matter of Dahyalal Ganeshbhai Panchal v CPIO, SEBI, Mumbai (Appeal No. 4355 of 2021) dealt with an issue in connection with Section 2 (f) of the Right to Information Act, 2005.

The appellant, Mr Dahyalal Ganeshbhai Panchal had filed an application via RTI MIS Portal on the 3rd of May, 2021 under the Right to Information Act, 2005. The respondent responded to the application by a letter on the 1st of June, 2021, filed by the appellate. After receiving a letter from the respondent on 1st of June, 2021, on his application, the appellate decided to file an appeal on the 21st of June, 2021.

In his application, the appellate was seeking the following information:

1. By which division of the government and for how long the recovery proceedings are going on? In how much time this proceeding is likely to be settled?

3. With respect to his complaint number 1…7/2020 filed before CID crime office, Gandhinagar, the appellant sought information whether investigation in this office has been entrusted by SEBI. If the same is entrusted by SEBI, whether an inquiry is made in writing by SEBI about the progress of this investigation.

4. Whether SEBI can hand over the investigation against this company to the CBI to help in getting the refund of the deposits of the investors stuck in the company.

5. Whether SEBI can file a case against SICCL in the Economic Offence Bench of the Supreme Court or in the Economic Offence Bench of any High Court of the State, to help the investors in getting refund of the deposits stuck in the company.

On perusal of the appeal, it appears that the appellant is not satisfied with the reply to query numbers 1, 3, 4 and 5. In view of the submissions of the appellant, the appellate Authority is only dealing with the said queries.

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