Company accounts are public property and hence information must be provided under RTI25 Sep, 2019
Ref: Under RTI, can account details of a private company be disclosed to a shareholder?
Comment: Companies are public entity. Bank Account Details are public in nature and affects the shareholders profits / losses. Share holders have invested their money.
Banks (SBI etc) can withhold individual personal accounts under RTI under section 8(1)(d), section 8(1)(e) Notwithstanding anything contained in this Act, there shall be no obligation to give any citizen, information available to a person in his fiduciary relationship, unless the competent authority is satisfied that the larger public interest warrants the disclosure of such information; and section 8(1)(j) Notwithstanding anything contained in this Act, there shall be no obligation to give any citizen, information which relates to personal information the disclosure of which has no relationship to any public activity or interest, or which would cause unwarranted invasion of the privacy of the individual unless the Central Public Information Officer or the State Public Information Officer or the appellate authority, as the case may be, is satisfied that the larger public interest justifies the disclosure of such information: Provided that the information which cannot be denied to the Parliament or a State Legislature shall not be denied to any person. of the RTI Act.
Company accounts must be exempted under the above sections. If companies comply with MCA guidelines on annual audits, the financial health of the companies will be officially published.
Company accounts are public property and hence information must be provided under RTI
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