Description
SEBI issues notice for attachment of bank and demat accounts of Spectrum Technoprojects Pvt Ltd (PAN: AAOCS7016F) under Recovery Certificate No. 8899 of 2025 in the matter of dealing in illiquid stocks options at BSE.
Summary
SEBI has issued a notice of attachment (Order Nos. 14940 & 14941 of 2025 dated October 17, 2025) for bank accounts and demat accounts of Spectrum Technoprojects Pvt Ltd (PAN: AAOCS7016F) under Recovery Certificate No. 8899 of 2025. The action is taken in connection with the matter of dealing in illiquid stocks options at BSE.
Key Points
- Entity: Spectrum Technoprojects Pvt Ltd
- PAN: AAOCS7016F
- Recovery Certificate No.: 8899 of 2025
- Order Numbers: 14940 & 14941 of 2025
- Notice Date: October 17, 2025
- Matter: Dealing in Illiquid Stocks Options at BSE
- Action: Attachment of bank accounts and demat accounts
Regulatory Changes
No new regulatory changes. This is an enforcement action under existing SEBI recovery proceedings framework.
Compliance Requirements
- Banks and depository participants must comply with the attachment orders
- The defaulter entity’s accounts are frozen pending recovery proceedings
- Third parties holding funds or securities of the defaulter must not release them without SEBI authorization
Important Dates
- October 17, 2025: Notice of attachment issued (Order Nos. 14940 & 14941 of 2025)
Impact Assessment
Entity-Specific Impact: Severe impact on Spectrum Technoprojects Pvt Ltd as all bank and demat accounts are attached, effectively freezing the entity’s financial operations.
Market Impact: Limited direct market impact. This is a targeted enforcement action against a specific defaulter entity involved in illiquid stock options violations.
Precedent Value: Demonstrates SEBI’s continued commitment to recovering dues from entities involved in market manipulation and illiquid stock schemes, serving as a deterrent for similar violations.
Impact Justification
High severity enforcement action involving attachment of bank and demat accounts of a defaulter entity in illiquid stock options matter. High impact for the specific entity but medium importance for broader market.