Description
SEBI cancels Recovery Certificate No. 2869 of 2020 against Ilesh Madhusudan Patel in the matter of Kushal Tradelink Ltd.
Summary
SEBI has issued a cancellation order for Recovery Certificate No. 2869 of 2020 against Ilesh Madhusudan Patel in the matter of Kushal Tradelink Ltd. This order effectively cancels the previously issued recovery certificate, indicating resolution of the compliance matter.
Key Points
- Recovery Certificate No. 2869 of 2020 has been cancelled
- Individual involved: Ilesh Madhusudan Patel
- Related entity: Kushal Tradelink Ltd.
- Order type: Cancellation of recovery certificate
- Regulatory action concludes enforcement proceedings
Regulatory Changes
No new regulatory changes introduced. This order cancels an existing recovery certificate, removing the compliance burden associated with it.
Compliance Requirements
- No ongoing compliance requirements as the recovery certificate has been cancelled
- Previously outstanding obligations under RC No. 2869/2020 are now void
- Normal regulatory compliance requirements continue to apply
Important Dates
- Original Recovery Certificate: 2020 (RC No. 2869)
- Cancellation Order Date: July 31, 2025
- Effective immediately upon issuance
Impact Assessment
Low market impact as this is a cancellation order that resolves rather than creates compliance issues. The order provides relief to the named individual from recovery proceedings, indicating successful resolution of the underlying matter.
Impact Justification
Recovery certificate cancellation indicates resolution of compliance matter, reducing regulatory burden on individual