Description
SEBI notice of attachment of bank accounts and demat accounts against Mr. Rajat Mishra (PAN: GUUPM8688E) for insider trading violations in HAL scrip under Recovery Certificate No. 7938 of 2024.
Summary
SEBI has issued notices for attachment of bank accounts and demat accounts (Order Nos. 14946 & 14947 of 2025 dated October 17, 2025) against Mr. Rajat Mishra (PAN: GUUPM8688E), who has been identified as a defaulter in insider trading proceedings related to Hindustan Aeronautics Limited (HAL) scrip. This action is being taken under Recovery Certificate No. 7938 of 2024 to recover amounts due from the defaulter.
Key Points
- Enforcement action against Mr. Rajat Mishra for insider trading violations in HAL scrip
- Attachment orders issued for both bank accounts and demat accounts
- Order numbers: 14946 & 14947 of 2025
- Recovery proceedings initiated under Recovery Certificate No. 7938 of 2024
- PAN of defaulter: GUUPM8688E
- Action demonstrates SEBI’s commitment to recovering dues from securities law violators
Regulatory Changes
No new regulatory changes. This is an enforcement action under existing SEBI regulations regarding insider trading and recovery of dues.
Compliance Requirements
- Banks and depositories must comply with the attachment orders and freeze the specified accounts
- The defaulter is prohibited from operating the attached bank and demat accounts
- Financial institutions must report compliance with the attachment orders to SEBI
- Any transactions in violation of the attachment orders may attract penal consequences
Important Dates
- October 17, 2025: Date of attachment orders (14946 & 14947 of 2025)
- Recovery Certificate No. 7938 of 2024 issued previously
Impact Assessment
Market Impact: Medium - Affects a specific individual defaulter, reinforcing SEBI’s deterrent mechanism against insider trading.
Operational Impact: High for the individual - Complete freeze of financial accounts significantly restricts the defaulter’s ability to conduct financial transactions.
Precedential Impact: High - Demonstrates SEBI’s active use of asset attachment powers for recovery in insider trading cases, serving as a deterrent to potential violators.
Investor Confidence: Positive - Shows regulator’s commitment to enforcing securities laws and recovering dues from violators, enhancing market integrity.
Impact Justification
High severity enforcement action involving asset attachment for insider trading violations. Demonstrates SEBI's active recovery efforts against securities law violations.