Information regarding loans granted to Gautam Adani Group by State Bank of India exempted from disclosure

Central Information Commission (CIC): While reiterating that third party’s personal information held by the bank in fiduciary capacity involving commercial confidence is exempt from disclosure under Section 8(1)(d), (e) and (j) of the RTI Act, CIC disposed of an appeal seeking information from the State Bank of India (Mumbai) regarding 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.

It was alleged by the appellant that the Group has taken loans worth about Rs. 77,000 crores from various banks and the Group’s financial position was not sound, therefore, he wanted the information. Earlier, appellant approached CPIO and the first appellate authority (FAA) of the Bank but was informed that the information being sought was commercial information and held by them in trust for the third party, therefore, it could not be provided. The contention of the appellant that larger public interest was involved in the matter as it was his duty to enquire into the documents submitted by the Group, was rejected by the Commission on the ground that appellant had not even mentioned any larger public interest in the matter let alone substantiate in his RTI application. “The Commission finds that the appellant had sought third party’s personal information held by the bank in fiduciary capacity involving commercial confidence. The Commission, therefore, holds that the information sought is exempt under Section 8(1)(d), (e) and (j) of the RTI Act,” noted the Commission while disposing of the appeal. [Ramesh Ranchordas Joshi v. State Bank of India, 2016 SCC OnLine CIC 15858, decided on October 4, 2016]

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