Appellant has 8 queries regarding Karvy’s closure cum transfer application: SEBI, Part 1.

The appellate authority under the RTI (Right to Information) Act of the Securities and Exchange Board of India comprising of Mr. Amarjeet Singh adjudicated in the matter of Ashok Kumar Agarwala v CPIO, SEBI, Mumbai (Appeal No. 4365 of 2021) dealt with an issue in connection with Section 2 (f) of the Right to Information Act, 2005.

The appellant, Mr Ashok Kumar Agarwala had filed an application via RTI MIS Portal on the 25th of May, 2021 under the Right to Information Act, 2005. The respondent responded to the application by a letter on the 9th of June, 2021, filed by the appellate. After receiving a letter from the respondent on 9th of June, 2021, on his application, the appellate decided to file an appeal on the 9th of July, 2021.

In his application the appellant was seeking the following information regarding Karvy’s closure cum transfer application:

  1. How much amount this TM has taken from their clients in the Name of SEBI turnover fees across exchanges i.e NSE, BSE and MCX.


  1. What is the number of clients of this TM from whom they have collected excess SEBI turnover fees?


  1. How much amount of SEBI turnover fees they have refunded to their clients?


  1. How many clients have got their refund of excess SEBI turnover fees charged by the TM since last 4 years?


  1. The appellant sought information regarding action taken against the said TM for their illegal activities of collecting excessive statutory charges from the clients.


  1. What are the rights of the client in this regard and what action can the client take against such illegal activities and against whom?


  1. Why all the complaints made against this TM with SCORES have been closed without taking any action against the TM and without any Redressal of the complaint filed by the client?

  1. Why the Complainant consent is not taken before closing the complaint on sided by the ISC of NSE.

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