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Business News/ Politics / Policy/  Sebi chief U.K. Sinha doesn’t have to disclose assets under RTI: CIC
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Sebi chief U.K. Sinha doesn’t have to disclose assets under RTI: CIC

The CIC has overturned its earlier order which had directed that the disclosure be done in larger public interest

Disclosure of the details of assets and liabilities of Sebi chief U.K. Sinha can cause “unwarranted invasion of privacy,” the Central Information Commission has said. Photo: MintPremium
Disclosure of the details of assets and liabilities of Sebi chief U.K. Sinha can cause “unwarranted invasion of privacy,” the Central Information Commission has said. Photo: Mint

New Delhi: Disclosure of the details of assets and liabilities of Securities and Exchange Board of India (Sebi) chief U.K. Sinha can cause “unwarranted invasion of privacy," the Central Information Commission (CIC) has said.

Conducting the hearing of the four-year old case, a full-bench of CIC has overturned its earlier order which had directed that the disclosure be done in larger public interest.

“The commission is of the considered opinion that the appellant in the instant case has not made a bona fide public interest in seeking information, the disclosure of such information is likely to cause unwarranted invasion of privacy of the individual under Section 8(1)(j) of the RTI (Right to Information) Act. It being so, we are not inclined to allow disclosure of the requested information. The matter is dismissed on the said grounds," reads the verdict by three information commissioners—Basant Seth, Manjula Prasher and M.A. Khan Yusufi.

Bengaluru-based Arun Kumar Agrawal had in January 2012 filed an RTI application with Sebi seeking details of the assets and liabilities of its chairman for the last three years along with his emoluments and perquisites. The information was declined in February that year by Sebi, saying it was held by it in fiduciary capacity. Agrawal then filed first appeal under the transparency law, which was dismissed as the authorities “did not find any merit" in it. Following this, the case was heard by the commission’s full bench in August 2014 which then allowed “disclosure of the requested information" to the applicant within four weeks time.

Sinha first became the Sebi Chairman on 18 February 2011 with a three-year tenure, which was later extended by two years. Just days before the end of his tenure in February this year, he was given another extension till 1 March 2017.

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Published: 14 Jun 2016, 04:54 PM IST
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