Saturday, June 18, 2016

SEBI brings out consultation paper to allow REITs to invest up to 20% of their corpus in under construction assets

There is no public interest served in disclosure of assets and liabilities of SEBI Chairman as such disclosure is likely to cause unwarranted invasion of privacy of the individual under section 8(1)( j) of the RTI Act, Rules CIC Bench

Facts:

a) The appellant filed RTI application before the Central Public Information O􀁹icer (CPIO), SEBI seeking the assets and liabilities and total present emoluments of Shri U.K. Sinha, Chairman of SEBI.

b) The CPIO rejected application saying that the information sought was personalinformation and it was held by the SEBI in fiduciary capacity. Hence, it could not be provided under section 8(1) (e) & (j) of the RTI Act.

c) The CIC allowed disclosure of the requested information directing the respondents to provide information sought in the RTI application within four weeks.


d) SEBI filed writ petition against full bench order of CIC, before Bombay High Court, the High Court disposed of writ petition setting aside Commission’s order and remanded matter back to CIC.

The Central Information Commission held as under:

1) The appellant has not made a bona fide public interest in seeking information. Disclosure of information which has no relationship to any public activity or interest or which would cause unwarranted invasion of privacy of the individual under section 8(1)(j) of the RTI Act.-[2016] 70 taxmann.com 172 (CIC)
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