The Central Information Commission has instructed the Lok Sabha Secretariat to revisit its refusal to share invoices for electronic procurement worth Rs 1.7 crore in 2021-22. An RTI applicant sought bill copies and spending details for computer hardware and peripherals, including laptops, printers, scanners, UPS systems and tablets. While item-wise expenditure was provided, invoices were withheld under the claim that disclosure would harm a third party’s competitive position. The CIC ruled the denial was unreasoned and unsubstantiated under Section 11, ordering either invoice disclosure or a revised explanation, with penalties possible for non-compliance.
A new RBI draft for “upper layer” non-bank finance companies is expected to hit core investment companies (CICs) disproportionately, mainly by raising compliance costs. Mandatory listing requirements may be onerous for CICs that don’t plan to access public markets, while an AUM-based approach could complicate governance and listing timelines.
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