Description

SEBI has issued a Notice of Demand under Recovery Certificate No. 8918 of 2025 against Laxman Dhananjay Gunde in the matter of Generic Engineering Construction and Projects Limited.

Summary

SEBI has issued a Notice of Demand dated October 9, 2025, under Recovery Certificate (RC) No. 8918 of 2025. This notice is drawn against Laxman Dhananjay Gunde in the matter of Generic Engineering Construction and Projects Limited. The issuance of a Recovery Certificate indicates that SEBI is taking formal recovery proceedings to collect outstanding dues or penalties from the named individual in connection with the company.

Key Points

  • Recovery Certificate Number: RC No. 8918 of 2025
  • Date of Notice: October 9, 2025
  • Individual Named: Laxman Dhananjay Gunde
  • Company Involved: Generic Engineering Construction and Projects Limited
  • Nature: Notice of Demand under recovery proceedings
  • Issued By: Securities and Exchange Board of India (SEBI)

Regulatory Changes

This document represents an enforcement action rather than a regulatory change. SEBI has initiated Recovery Certificate proceedings under its powers to recover dues, which typically follows:

  • Previous enforcement orders or penalties
  • Non-compliance with payment of dues
  • Formal demand for payment
  • Recovery proceedings initiated when voluntary payment is not made

Compliance Requirements

  • The individual named (Laxman Dhananjay Gunde) is required to respond to the Notice of Demand
  • Payment of the demanded amount as specified in the Recovery Certificate
  • Failure to comply may result in:
    • Attachment of bank accounts
    • Attachment of demat accounts
    • Attachment of other assets
    • Further enforcement proceedings
    • Potential arrest warrant in case of willful default

Important Dates

  • Notice Date: October 9, 2025
  • Recovery Certificate Number: RC No. 8918 of 2025
  • The notice likely specifies a deadline for payment or response (specific date would be in the document)

Impact Assessment

Individual Impact (High):

  • Laxman Dhananjay Gunde faces recovery proceedings with potential asset attachment
  • Legal and financial implications for the individual
  • May face restrictions on securities market activities

Company Impact (High):

  • Generic Engineering Construction and Projects Limited is implicated in the matter
  • Reputational damage to the company
  • Potential impact on stock price and investor confidence
  • May affect company’s ability to raise capital

Market Impact (Medium to High):

  • Demonstrates SEBI’s continued enforcement action
  • Sends signal to market participants about consequences of non-compliance
  • May affect investor sentiment toward similar companies

Investor Considerations:

  • Investors in Generic Engineering Construction and Projects Limited should monitor developments
  • Recovery proceedings indicate serious regulatory concerns
  • Assess exposure to the company and related entities

This enforcement action reflects SEBI’s commitment to recovering dues and enforcing compliance with securities regulations. The use of Recovery Certificate proceedings indicates that earlier demands or penalties were not voluntarily paid, necessitating formal recovery action.

Impact Justification

This is a Notice of Demand under Recovery Certificate proceedings, indicating SEBI has initiated formal recovery action against Laxman Dhananjay Gunde in relation to Generic Engineering Construction and Projects Limited. Recovery Certificate proceedings represent serious enforcement action with potential financial and legal consequences.