Description

SEBI issues notice of demand under Recovery Certificate No. 8923 of 2025 dated 15.10.2025 against Nilesh Malshi Savla (AAEPS0827P) and Meena Nilesh Savla (AKUPS3442E) in the matter of RKD Agri & Retail Limited.

Summary

SEBI has issued a Notice of Demand under Recovery Certificate No. 8923 of 2025 dated October 15, 2025, against Nilesh Malshi Savla (PAN: AAEPS0827P) and Meena Nilesh Savla (PAN: AKUPS3442E) in the matter of RKD Agri & Retail Limited. This represents an enforcement action for recovery of outstanding amounts.

Key Points

  • Recovery Certificate No. 8923 of 2025 issued on October 15, 2025
  • Notice directed against two individuals: Nilesh Malshi Savla and Meena Nilesh Savla
  • Related to the matter of RKD Agri & Retail Limited
  • Formal demand notice issued by SEBI for recovery proceedings

Regulatory Changes

No new regulatory changes introduced. This is an enforcement action under existing SEBI recovery procedures.

Compliance Requirements

  • Named individuals (Nilesh Malshi Savla and Meena Nilesh Savla) are required to comply with the demand notice
  • Payment of outstanding amounts as specified in the recovery certificate
  • Non-compliance may lead to further enforcement actions including attachment of assets

Important Dates

  • Recovery Certificate Date: October 15, 2025
  • Notice Date: October 15, 2025

Impact Assessment

Severity: High - Recovery certificate issuance is a serious enforcement action indicating unpaid dues or penalties

Impact on Individuals: High - Direct financial liability on named individuals with potential for asset attachment if demand is not met

Market Impact: Medium - May affect investor confidence in RKD Agri & Retail Limited and raise concerns about compliance practices

Precedent: Recovery proceedings demonstrate SEBI’s commitment to enforcement and collection of dues from non-compliant entities and individuals

Impact Justification

Recovery certificate issuance indicates enforcement action with direct financial impact on named individuals for non-compliance in matter related to RKD Agri & Retail Limited