Notice of Attachment of Bank Accounts and Demat Accounts - Kevin Kapadia (Recovery Certificate No. 8908 of 2025)

Description

SEBI issues notice of attachment of bank accounts and demat accounts against Kevin Kapadia (PAN: AGIPK9817H) under AP No. 14922 & 14923 of 2025 in the matter of Darshan Orna Limited.

Summary

SEBI has issued a notice of attachment of bank accounts and demat accounts against Kevin Kapadia (PAN: AGIPK9817H) under Attachment Proceedings (AP) No. 14922 and 14923 of 2025, dated October 15, 2025. This enforcement action is taken in the matter of Darshan Orna Limited under Recovery Certificate No. 8908 of 2025, indicating ongoing recovery proceedings to recover outstanding dues from the defaulter.

Key Points

• Defaulter identified as Kevin Kapadia with PAN: AGIPK9817H
• Attachment proceedings numbered AP No. 14922 & 14923 of 2025
• Notice dated October 15, 2025
• Related to the matter of Darshan Orna Limited
• Issued under Recovery Certificate No. 8908 of 2025
• Both bank accounts and demat accounts subject to attachment
• Represents enforcement action for recovery of outstanding amounts

Regulatory Changes

No new regulatory changes. This is an enforcement action under existing SEBI recovery and attachment provisions.

Compliance Requirements

• Banks and depositories must comply with the attachment notice
• Kevin Kapadia’s bank accounts are frozen/attached as per the notice
• Kevin Kapadia’s demat accounts are frozen/attached as per the notice
• The defaulter must settle outstanding dues to SEBI to have attachments removed
• Financial institutions holding the accounts must not permit withdrawals or transfers from the attached accounts

Important Dates

• October 15, 2025: Date of attachment notice (AP No. 14922 & 14923 of 2025)
• Recovery Certificate No. 8908 of 2025 forms the basis of this action

Impact Assessment

High Impact: This attachment notice represents severe enforcement action by SEBI against Kevin Kapadia as a defaulter in the matter of Darshan Orna Limited. The freezing of both bank and demat accounts significantly restricts the defaulter’s ability to conduct financial transactions and indicates the seriousness of the outstanding dues. Such attachment proceedings typically follow unsuccessful attempts to recover amounts through other means. Market participants should note this enforcement action as it demonstrates SEBI’s commitment to recovering dues and penalizing non-compliance. The action may have implications for ongoing or future matters related to Darshan Orna Limited.

Impact Justification

Attachment of bank and demat accounts represents severe enforcement action against a defaulter in recovery proceedings, indicating serious compliance violations with significant financial implications.