Description
SEBI order for compliance releasing bank accounts, demat accounts and mutual fund folios following recovery certificate proceedings.
Summary
SEBI has issued a compliance order for the release of bank accounts, demat accounts and mutual fund folios of Mr. Nemichand Kasturchand Jain (PAN: ABBPJ2880M) in connection with Recovery Certificate No. 8395 of 2024.
Key Points
- Recovery Certificate No. 8395 of 2024 proceedings have been completed
- Release order covers bank accounts, demat accounts and mutual fund folios
- Individual enforcement action against Mr. Nemichand Kasturchand Jain
- PAN number: ABBPJ2880M
Regulatory Changes
No regulatory changes introduced.
Compliance Requirements
- Banks, depositories and mutual funds to comply with the release order
- Lifting of restrictions on specified accounts and folios
- Implementation of SEBI’s compliance directives
Important Dates
- Order date: August 12, 2025
- Recovery Certificate reference: RC No. 8395 of 2024
Impact Assessment
This is an individual enforcement action with no broader market implications. The order represents the conclusion of recovery proceedings against a specific individual and the subsequent release of frozen assets.
Impact Justification
Individual enforcement action with limited market impact