Description

SEBI has issued notices 14936 & 14937 of 2025 for attachment of bank accounts and demat accounts of defaulter Abhinesh Kumar in the matter of ISO at BSE under Recovery Certificate No. 8884 of 2025.

Summary

SEBI has issued notices of attachment (Notice Nos. 14936 & 14937 of 2025 dated October 16, 2025) for bank accounts and demat accounts of Abhinesh Kumar (PAN: AGWPK6944M), who has been identified as a defaulter in the matter of Initial Public Offer (ISO) at BSE. This action is being taken under Recovery Certificate No. 8884 of 2025 to recover outstanding dues.

Key Points

  • Defaulter Name: Abhinesh Kumar
  • PAN: AGWPK6944M
  • Notice Numbers: 14936 & 14937 of 2025
  • Recovery Certificate No.: 8884 of 2025
  • Matter: ISO (Initial Public Offer) at BSE
  • Action: Attachment of bank accounts and demat accounts
  • Notice Date: October 16, 2025

Regulatory Changes

No regulatory framework changes. This is an enforcement action under existing recovery mechanisms.

Compliance Requirements

  • Banks and depositories are required to freeze/attach the specified accounts of the defaulter
  • The defaulter is prohibited from operating the attached bank accounts and demat accounts
  • Third parties holding assets of the defaulter must comply with the attachment notice
  • Non-compliance with the attachment notice may attract penalties

Important Dates

  • October 16, 2025: Date of issuance of attachment notices 14936 & 14937
  • Attachment remains effective until recovery of dues or further orders from SEBI

Impact Assessment

Individual Impact: High - The named individual faces freezing of bank and demat accounts, severely restricting financial operations until dues are recovered.

Market Impact: Low - This is an individual enforcement action with no broader market implications. It demonstrates SEBI’s commitment to recovering dues from defaulters in ISO matters at BSE.

Institutional Impact: Medium - Financial institutions (banks and depositories) must comply with the attachment order and implement necessary freezes on the specified accounts.

Impact Justification

Enforcement action against individual defaulter. High severity for the named individual but low market-wide impact.