Description
SEBI directs de-freezing of trading accounts for Rajiv Kapoor after compliance with unlawful gains impounding requirements in stock recommendation violations case.
Summary
SEBI has directed BSE to de-freeze the trading accounts of Rajiv Kapoor (PAN: ARSPK9663Q) after he complied with Para 149(i) of a SEBI order by depositing ₹11,37,19,170 as unlawful gains from stock recommendation violations by Sanjiv Bhasin in media channels and social media platforms.
Key Points
- Rajiv Kapoor (Noticee No. 5) has complied with SEBI’s unlawful gains impounding requirement
- Total amount impounded: ₹11,37,19,170 (₹11.37 crores)
- Amount deposited in fixed deposit account with lien marked in favor of SEBI
- Trading account freeze to be lifted for PAN: ARSPK9663Q
- Case relates to stock recommendations given by Sanjiv Bhasin in media channels and social media
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action update on existing SEBI order compliance.
Compliance Requirements
- Trading members must de-freeze trading accounts for the specified PAN
- Fixed deposit amount cannot be released without SEBI permission
- Trading members must ensure compliance with the directions
Important Dates
- August 25, 2025: SEBI email confirming compliance and directing account de-freeze
- June 17, 2025: Original exchange notice (20250617-19) on this matter
Impact Assessment
This action demonstrates SEBI’s continued enforcement of regulations regarding stock recommendations in media. The successful recovery of unlawful gains (₹11.37 crores) and subsequent account de-freeze shows the regulatory process working effectively. Impact is specific to the individual involved but reinforces broader market integrity measures around media stock recommendations.
Impact Justification
Specific enforcement action affecting individual trader but demonstrates regulatory oversight of media recommendations