Description
SEBI completes recovery of Rs. 5,21,000 penalty from Mamata Bhiwaniwala in illiquid stock options case following full payment of dues.
Summary
SEBI’s Eastern Regional Office (Kolkata) has completed Recovery Certificate No. RC8791 of 2025 against Mamata Bhiwaniwala (PAN: ADGPB7704B) following full payment of Rs. 5,21,000 penalty imposed in an illiquid stock options matter. The recovery proceedings have been closed after the defaulter paid the entire amount including interest and costs.
Key Points
- Recovery Certificate RC8791 of 2025 dated June 16, 2025 has been completed
- Total amount recovered: Rs. 5,21,000 (Five Lakh Twenty-One Thousand Only)
- Original penalty imposed by Adjudicating Officer vide Order No. OrderlASlDPl2024-25131283 dated March 20, 2025
- Payment included principal amount, further interest, and all recovery costs and expenses
- Recovery completed under Section 28A(1) of SEBI Act, 1992 read with Income Tax Act, 1961 provisions
Regulatory Changes
No new regulatory changes introduced. This is an administrative closure notice for completed recovery proceedings.
Compliance Requirements
No ongoing compliance requirements as the recovery has been completed and the matter is closed.
Important Dates
- March 20, 2025: Original penalty order issued
- June 16, 2025: Recovery Certificate RC8791 of 2025 drawn up
- July 24, 2025: Recovery proceedings completed (payment received)
Impact Assessment
This is an individual case closure with no broader market impact. The completion of recovery proceedings demonstrates SEBI’s enforcement mechanism effectiveness in collecting penalties from defaulters. The case relates to illiquid stock options violations but does not affect ongoing market operations or introduce new regulatory requirements for market participants.
Impact Justification
Administrative closure of individual recovery case with no broader market implications