Information regarding compounding applications under FEMA received at RBI was denied u/s 8(1)(d) & (e) - CIC: the disclosure would affect the commercial confidence of third party; no larger public interest has been established by the appellant
9 Jan, 2015Facts:
1. The appellant, Shri Trideep Pais, submitted RTI application dated 16 November 2011 before the Executive Director, Reserve Bank of India, Mumbai; seeking information regarding compounding applications under FEMA received at RBI, through a total of 11 points.
2. Vide reply dated 8 December 2011, CPIO denied the information u/s 8(1)(d) Notwithstanding anything contained in this Act, there shall be no obligation to give any citizen, information including commercial confidence, trade secrets or intellectual property, the disclosure of which would harm the competitive position of a third party, unless the competent authority is satisfied that larger public interest warrants the disclosure of such information; Notwithstanding anything contained in this Act, there shall be no obligation to give any citizen, information including commercial confidence, trade secrets or intellectual property, the disclosure of which would harm the competitive position of a third party, unless the competent authority is satisfied that larger public interest warrants the disclosure of such information; & (e) of the RTI Act, 2005; however provided some general information. Not satisfied by the CPIO’s reply, the appellant preferred an appeal dated 7 January 2012 to the first appellate authority (FAA) alleging that he had wrongly been denied the information by the CPIO concerned. Vide order dated 8 February 2012, FAA upheld the CPIO’s decision and also clarified the same.
3. Not satisfied with the response of the public authority, the appellant preferred second appeal before the Commission.
4. The matter was heard today. The appellant’s representative, Ms. Natalya Shibli submitted that information has not been provided regarding the particulars of all compounding applications filed by various parties/companies before RBI for violations under the Foreign Exchange Management Act, 1999 (FEMA) The information sought may be provided as the cases are over as on date. Also, the CPIO has failed to provide a speaking reply to the RTI application.
5. The respondents submitted that the information sought is third party information and the disclosure of the same would affect the commercial confidence of third party. Also, the information sought is held in fiduciary capacity with the RBI. Hence, Section 8(1)(d) Notwithstanding anything contained in this Act, there shall be no obligation to give any citizen, information including commercial confidence, trade secrets or intellectual property, the disclosure of which would harm the competitive position of a third party, unless the competent authority is satisfied that larger public interest warrants the disclosure of such information; Notwithstanding anything contained in this Act, there shall be no obligation to give any citizen, information including commercial confidence, trade secrets or intellectual property, the disclosure of which would harm the competitive position of a third party, unless the competent authority is satisfied that larger public interest warrants the disclosure of such information; and (e) of the RTI Act is getting attracted. CIC in their previous decision no CIC/VS/A/2013/000749/MP dated 27/5/2014 has upheld the CPIO’s stand in a similar case. Also, no larger public interest has been established by the appellant in the disclosure of the above information. If the appellant wishes to study the procedure of filing complaint under the FEMA Act, the rules relating to foreign exchange compounding proceedings and RBI Master Circular is available on the RBI website.
Decision Notice
6. The Commissions upholds the CPIO’s submissions and disposes of the appeal.
(Manjula Prasher)
Information Commissioner
Citation: Shri Trideep Pais v. Reserve Bank of India in Appeal: No. CIC/SG/A/2012/001442/MP