Description

SEBI clarifies no directions were issued against Mr Dharmendra R Shah in the final order related to SMS Techsoft (India) Limited and directs unfreezing of his PAN.

Summary

SEBI has clarified that no directions were issued against Mr Dharmendra R Shah in the final order (WTM/MPB/EFD-1-DRA1/25/2018) dated July 27, 2018 related to M/s SMS Techsoft (India) Limited. Consequently, SEBI has directed the unfreezing of Mr Dharmendra R Shah’s PAN (ACDPS9920N). This follows the original Exchange Notice No. 20180727-38 dated July 27, 2018.

Key Points

  • SEBI confirms no directions were issued against Mr Dharmendra R Shah in the final order dated July 27, 2018
  • PAN ACDPS9920N belonging to Mr Dharmendra R Shah is to be unfrozen
  • This is a continuation of matter referenced in Exchange Notice No. 20180727-38 from July 27, 2018
  • SEBI order reference: WTM/MPB/EFD-1-DRA1/25/2018
  • Copy of the order is available on SEBI website www.sebi.gov.in

Regulatory Changes

No new regulatory changes introduced. This is a clarification and reversal of a previous administrative action.

Compliance Requirements

  • Trading members are advised to take note of the unfreezing of Mr Dharmendra R Shah’s PAN
  • Trading members must ensure compliance with the updated status
  • No additional compliance actions required beyond awareness of the PAN unfreezing

Important Dates

  • February 02, 2026: SEBI email communication received directing PAN unfreezing
  • February 02, 2026: BSE circular issued (Notice No 20260202-39)
  • July 27, 2018: Original final order date (WTM/MPB/EFD-1-DRA1/25/2018)
  • July 27, 2018: Original Exchange Notice No. 20180727-38 issued

Impact Assessment

This circular has minimal market impact as it is an administrative clarification affecting a single individual. The unfreezing of Mr Dharmendra R Shah’s PAN restores his ability to conduct financial transactions but does not affect trading operations, market structure, or compliance requirements for trading members beyond awareness. Trading members need only note the change in status for their records.

Impact Justification

Administrative clarification unfreezing an individual's PAN with no broader market or compliance implications for trading members