Description
SEBI issues attachment notice for bank and demat accounts of ASHISH KUMAR SINGH (PAN: CNKPS7612D) as defaulter in Superior Finlease Ltd recovery proceedings under Recovery Certificate No. 8334 of 2024.
Summary
SEBI has issued Attachment Orders No. 14948 and 14949 of 2025 dated October 17, 2025, for attachment of bank accounts and demat accounts belonging to ASHISH KUMAR SINGH (PAN: CNKPS7612D), who has been identified as a defaulter in the matter of Superior Finlease Ltd. This action is being taken under Recovery Certificate No. 8334 of 2024 as part of SEBI’s recovery proceedings to enforce outstanding dues.
Key Points
- Attachment orders issued against ASHISH KUMAR SINGH (PAN: CNKPS7612D)
- Order numbers: 14948 and 14949 of 2025
- Order date: October 17, 2025
- Related entity: Superior Finlease Ltd
- Recovery Certificate No. 8334 of 2024
- Both bank accounts and demat accounts are subject to attachment
- Individual classified as defaulter in recovery proceedings
Regulatory Changes
No new regulatory changes. This notice represents enforcement of existing SEBI recovery provisions under the SEBI Act and Recovery of Debts Due to Banks and Financial Institutions Act.
Compliance Requirements
- All banks and depository participants must comply with the attachment order
- No withdrawals or transactions to be permitted from the attached accounts
- Frozen accounts must remain frozen until further orders from SEBI
- Financial institutions must report account balances and holdings to SEBI
- Any violation of attachment orders may result in penalties
Important Dates
- Order Date: October 17, 2025
- Recovery Certificate: No. 8334 of 2024
Impact Assessment
Individual Impact: ASHISH KUMAR SINGH faces complete freezing of bank and demat accounts, preventing any financial transactions or securities dealings until the recovery proceedings are resolved. This significantly restricts the individual’s financial activities.
Market Impact: Limited direct market impact as this is an individual enforcement action. However, it demonstrates SEBI’s continued strict enforcement of recovery proceedings against defaulters.
Precedent: Reinforces SEBI’s commitment to recovery of dues through attachment of assets, serving as a deterrent for non-compliance with regulatory obligations and outstanding payments to market entities.
Impact Justification
High severity enforcement action involving attachment of bank and demat accounts of a defaulter in recovery proceedings, indicating serious non-compliance and regulatory enforcement measures under SEBI's recovery process.