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CIC refuses to disclose records of loans given to Adani firms

The Central Information Commission (CIC) has refused to disclose records related to loans given to industries promoted by Gautam Adani citing that these records are held by State Bank of India in fiduciary capacity and involve commercial confidence.

The Central Information Commission (CIC) has refused to disclose records related to loans given to industries promoted by Gautam Adani citing that these records are held by State Bank of India in fiduciary capacity and involve commercial confidence.

The commission was responding to a plea by Ramesh Ranchordas Joshi who wanted to know from State Bank of India “the basis of giving huge loans to Gautam Adani Group along with the evidence that the loan was connected to the coal mines of Australia”.

“The CPIO informed the appellant that the information being sought was commercial information and held by them in trust for the third party, therefore, it could not be provided and denied information under section 8(1)(d) (commercial confidence) and (e) (fiduciary capacity) of the RTI Act,” information commissioner Manjula Prasher said in the response.

Prashar said the disclosure of the information sought by Joshi could be denied under Section 8(1)(j) also as the information sought was about third party’s loan account.

She said that the appellant had sought information on the basis of giving loan to the Gautam Adani Group and information regarding the proof of the loan being connected with the coal mines of Australia.

“He had not mentioned any larger public interest in the matter, let alone substantiate in his RTI application. Further he had not requested for any copies of documents while seeking information which was added in his second appeal,” said Prashar.

Replying to Joshi’s plea to sought information of the Gautam Adani Group, State Bank of India had claimed that Joshi had not mentioned any larger public interest in the matter in his RTI application which was brought in at the stage of first appeal only.

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