Sunday, July 11, 2010

Information Commissioner lambasts SEBI for providing misleading information under RTI Act

The order was issued in connection with an appeal filed seeking information about all communication received by the market regulator from the capital markets division of the finance ministry MS Sahoo, whole-time member of the Securities and Exchange Board of India (SEBI) has been issued a show-cause notice by the Central Information Commission asking him to show cause as to why an appellant should not be paid Rs25,000 as compensation for the detriment caused to her on account of the perfunctory manner in which her Right to Information (RTI) application and appeal was heard and disposed of. Information Commissioner AN Tiwari issued the order in connection with an appeal filed by Seema Kashyap to SEBI seeking information about all communication received by the market regulator from the capital markets division of the finance ministry on norms for approval of new stock exchanges, currency derivatives, SME exchange, interest-rate derivatives, corporate bond markets and ownership guidelines for stock exchanges.

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