The Securities and Exchange Board of India (Sebi) has said it does not have readily available information on cases where chairperson Madhabi Puri Buch recused herself due to potential conflict of interest and declaration about her financial assets.

In response to an RTI application filed by activist Lokesh Batra, the Central Public Information Officer (CPIO) of Sebi said that cases where Buch recused herself due to potential conflict of interest were not “readily” available.

He added that collating them would “disproportionately divert” Sebi’s resources.

Batra had sought information on a variety of matters that included the date of her appointment as Sebi chairperson, the dates when she made declarations of financial assets and equities held by her and her family to the Sebi board and the government of India.

He also wanted to know the details of all the matters where Buch had recused herself due to potential conflict of interest.

Responding to the application, the regulator also did not provide copies of Buch’s declarations to the government and the Sebi board on the financial assets and equities held by her and her family members on the ground of them being “personal information”. It also said that their disclosure may “endanger” personal safety.

Sebi also did not disclose the dates on which the disclosures were made. The regulator used the ground of “personal information” and “safety” to deny copies of these declarations.

“Since the information sought do not pertain to you and the same relates to personal information, the disclosure of which has no relationship to any public activity or interest and may cause unwarranted invasion into the privacy of the individual and may also endanger the life or physical safety of the person(s). The same is, therefore, exempt in terms of Section 8(1)(g) and 8(1)(j) of the RTI Act, 2005,” the Sebi CPIO said.

“Further the information on cases where Madhabi Puri Buch recused herself due to potential conflicts of interest during her tenure is not readily available and collating the same will lead to disproportionately diverting the resources of the public authority in terms of Section 7(9) of the RTI Act,” it added.

Section 8(1)(g) allows a public authority to withhold information the disclosure of which would endanger the life and physical safety of any person and section 8(1)(j) allows withholding information which relates to personal information the disclosure of which has no relationship to any public activity or interest.

Hindenburg Research had accused Buch of conflict of interest.

Responding to the allegations by Hindenburg, the markets regulator in a press release on August 11 claimed she had recused herself on matters involving potential conflict of interest.

The US-based short seller had alleged that Sebi has gone slow in its investigations against the Adani group because Buch had stakes in offshore funds linked to the conglomerate.

“It is noted that relevant disclosures required in terms of holdings of securities and their transfers have been made by the chairperson from time to time,” Sebi had said in the statement.