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Panel pulls up IFCI for dodging RTI Act

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MUMBAI: When Mumbai-based lawyer VT Gokhale filed a request with the Industrial Finance Corporation of India (IFCI) under the Right to Information (RTI) Act, a response wasn't forthcoming.


Industrial Finance Corporation of India produced a certificate from the government that said it wasn't a ‘public body'. Therefore, the company argued, it was outside the purview of the RTI and did not have to respond to the request.


But Gokhale persisted and went to Sebi, the stock exchange regulator. Because Sebi is a public body that comes under the RTI's canvas, it could be approached for information on another company controlled by it.


Having done that, he also went to the Central Information Commission (CIC) challenging the validity of the certificate issued by the government. In a recent ruling, the CIC favoured Gokhale, pulled by IFCI, declared the certificate it held ‘invalid' and urged government departments and ministries to refrain from issuing such certificates. "Whether an entity is a public authority or not is to be determined only under the RTI Act," it ruled.


In July 1996, IFCI had made a public issue of five types of bonds. It collected about Rs 1,237 crore, including a green-shoe option from the bond issue. In 2003, IFCI decided to exercise its call option and asked bond holders to submit the bonds by a specified date.


Gokhale's grievance was that IFCI did not pay the redemption money by the promised date and hence, it should pay interest on the delayed period.


In his case, Gokhale was paid Rs 99 by IFCI as the penalty, but the company did not divulge full details about similar payments made to others. With the CIC order, Gokhale now hopes to get his answers in a months time.


Says RTI activist Shailesh Gandhi, "Many companies try to dodge queries under the RTI by producing such certificates." This is because, the Act is applicable only to entities either run, controlled or substantially financed by the government. "They circumvent the Act claiming not to be substantially financed by the government."


Panel pulls up IFCI for dodging RTI Act-India Business-Business-The Times of India

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Does IFCI fully comes under RTI act? or is there any appeal filled in the court. If it comes under RTI act then it should mention it on there website with the name of the PIO.

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The Delhi HC has already ruled that IFCI is a public authority as defined in Sec 2(h) of the RTI Act.

No idea if they have approached the SC.


You can send them a RTI application and find out as to what is the response.


Just address it to:


The Central Public Information Officer (CPIO)

under RTI Act 2005







Or address it to the Managing Director of IFCI and request him to send the RTI application to the PIO since details are not available on the website.

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