Description
SEBI has debarred Mr. Sanjay Dalmia, Mr. Anurag Dalmia, and Mr. Ashok Kumar Joshi from securities market for periods ranging from 12-24 months.
Summary
SEBI has issued an order dated August 29, 2025, debarring three individuals from the securities market in connection with Golden Tobacco Limited. The entities are prohibited from accessing securities markets and dealing in securities for specified periods.
Key Points
- Three entities debarred: Mr. Sanjay Dalmia (24 months), Mr. Anurag Dalmia (18 months), and Mr. Ashok Kumar Joshi (12 months)
- Complete prohibition from buying, selling or dealing in securities including mutual fund units
- Prohibition from being associated with securities market in any manner
- Investigation covered financial years 2009-2010 to 2020-21
- Golden Tobacco Limited is engaged in manufacturing tobacco products and real estate
Regulatory Changes
No new regulatory framework changes introduced. This is enforcement of existing SEBI regulations including PFUTP Regulations and LODR Regulations.
Compliance Requirements
- NSE members must take note of the debarment and ensure compliance
- Debarred entities can close existing derivative positions within 3 months or at contract expiry
- Settlement of pay-in/pay-out obligations for pre-order transactions permitted
- Members can check consolidated list of debarred entities on NSE website
Important Dates
- SEBI Order Date: August 29, 2025
- NSE Circular Date: September 01, 2025
- Debarment effective from: August 29, 2025
- Derivative position closure deadline: 3 months from order date or contract expiry
Impact Assessment
Limited direct market impact as debarment affects only three specific individuals. However, demonstrates continued SEBI enforcement in cases of securities violations. Members advised to maintain updated records of debarred entities to ensure compliance with trading restrictions.
Impact Justification
Significant regulatory action affecting specific entities but limited broader market impact