Description
SEBI directs de-freezing of trading accounts for Rajiv Kapoor after compliance with unlawful gains impoundment requirements.
Summary
SEBI has directed the de-freezing of trading accounts belonging to Rajiv Kapoor (PAN: ARSPK9663Q) after he complied with the requirement to impound unlawful gains of ₹11,37,19,170 in a fixed deposit account with lien in favor of SEBI. This follows SEBI’s earlier order regarding stock recommendations made by Sanjiv Bhasin.
Key Points
- Rajiv Kapoor (Noticee No. 5) has complied with Para 149(i) of SEBI’s order
- Unlawful gains of ₹11,37,19,170 have been deposited in fixed deposit with SEBI lien
- Trading accounts with PAN ARSPK9663Q can now be de-frozen
- This relates to earlier violations involving stock recommendations by Sanjiv Bhasin
Regulatory Changes
No new regulatory changes. This is an implementation update of existing SEBI enforcement order.
Compliance Requirements
- Trading members must de-freeze trading accounts pertaining to PAN ARSPK9663Q
- Compliance with Para 149(x) directions of the referenced SEBI order
- Ensure proper implementation of the de-freezing directive
Important Dates
- Notice Date: August 25, 2025
- SEBI Email Date: August 25, 2025
- Reference to earlier Exchange Notice: June 17, 2025 (Notice No. 20250617-19)
Impact Assessment
Limited impact affecting specific individual trading accounts. Demonstrates SEBI’s enforcement mechanism where compliance with monetary penalties leads to restoration of trading privileges. Sets precedent for similar enforcement cases involving unlawful gains from stock recommendations.
Impact Justification
Specific compliance update affecting individual trading accounts following SEBI enforcement action