Description
SEBI revokes restrictions on Rekha Kurani imposed in February 2024 IPO irregularities case, allowing her to access securities market again.
Summary
SEBI has revoked the market access restrictions imposed on Ms. Rekha Kurani vide Order No. WTM/AS/IVD/ID8/31730/2025-26 dated October 7, 2025. The original restrictions were imposed on February 28, 2024 (Order WTM/AN/ISD/ISD-SEC-7/30054/2023-24) in connection with irregularities in the IPO of V Marc India Limited. Following detailed investigation, SEBI determined that Ms. Kurani’s involvement could not be established, leading to the revocation.
Key Points
- Rekha Kurani (PAN: AQCPK5061H) was previously restrained from accessing securities market and prohibited from buying, selling or dealing in securities
- Original interim order dated February 28, 2024 was confirmed on July 26, 2024 with modifications
- Detailed investigation concluded that involvement of Ms. Rekha Kurani could not be established
- Revocation order issued under Sections 11(1), 11(4) and 11B read with Section 19 of SEBI Act, 1992
- Consolidated list of debarred entities available on NSE website
Regulatory Changes
No new regulatory changes introduced. This circular removes previously imposed restrictions on one individual.
Compliance Requirements
- NSE members advised to take note of the revocation
- Members should ensure compliance with updated debarred entities list
- Updated consolidated list available at: https://www.nseindia.com/regulations/member-sebi-debarred-entities
- Queries to be directed to: dl-invsg-all@nse.co.in
Important Dates
- February 28, 2024: Original interim order issued
- July 26, 2024: Confirmatory order with modifications
- October 7, 2025: Revocation order issued
Impact Assessment
Minimal market impact as this affects only one individual who was part of a larger investigation into V Marc India Limited IPO irregularities. The revocation indicates that after thorough investigation, SEBI found insufficient evidence of wrongdoing by this specific entity. No operational or systemic changes required for market participants.
Impact Justification
Revocation of restrictions on single individual; no broader market impact or operational changes required