Information regarding joint venture between MetLife India Insurance Company Ltd and PNB – CIC: provide attested photocopy of sanction order issued by the IRDA venture after severing information relating to commercial confidence u/s section10
1. Applicant submitted RTI application dated 28 August 2012 before the CPIO, IRDA, Hyderabad to obtain information regarding whether the joint venture between MetLife India Insurance Company Limited and Punjab National Bank was legal or illegal along with information pertaining to the stakeholding by PNB.
2. Vide CPIO order dated 11 September 2012, information was provided to the appellant pertaining to the stakeholding of PNB in the joint venture but any opinion regarding the legality or otherwise of the joint venture was denied.
3. Appellant preferred appeal dated 25 September, 2012 before the first appellate authority who disposed of the matter vide FAA order dated 10 October, 2012 by upholding the order of the CPIO.
4. Appellant preferred second appeal before the Commission.
5. Respondent as above was heard from Hyderabad. Appellant made submissions from Sonepat. Respondent stated that the joint venture had been sanctioned by the IRDA with 30% stake holding by PNB and that all sanctions had been made as per the Insurance Act.
6. After hearing both parties Commission directs the CPIO, IRDA to provide an attested photocopy of Sanction order issued by the IRDA in respect of this joint venture. CPIO, is further directed to severe information under section10 of the RTI Act pertaining to commercial confidence/trade secret, disclosure of which would harm competitive position.
7. Information to be provided within two weeks of receipt of the order.
(Smt. Deepak Sandhu)
Information Commissioner (DS)
Citation: Shri Sunil Wadhwa v. IRDA in Appeal: No. CIC/DS/A/2012/002458