Description

SEBI has issued a recovery certificate against Anup Karwa (PAN - BFNPK5368C) for recovery of dues in the matter related to Prakash Constrowell Limited, which is now known as Setubandhan Infrastructure Limited.

Summary

SEBI has issued Recovery Certificate No. 8931 dated October 27, 2025 against Anup Karwa (PAN - BFNPK5368C) for recovery of outstanding dues in a matter related to Prakash Constrowell Limited, which has now been renamed as Setubandhan Infrastructure Limited. This notice is part of SEBI’s enforcement action to recover amounts due as per regulatory proceedings.

Key Points

  • Recovery Certificate No. 8931 of 2025 issued on October 27, 2025
  • Notice issued against Anup Karwa (PAN - BFNPK5368C)
  • Related to the matter of Prakash Constrowell Limited (now renamed as Setubandhan Infrastructure Limited)
  • Part of SEBI’s debt recovery and enforcement mechanism
  • Issued under the provisions of the Recovery of Debts Due to Banks and Financial Institutions Act or similar recovery provisions

Regulatory Changes

No regulatory changes announced. This is an enforcement action under existing regulations.

Compliance Requirements

  • Anup Karwa is required to pay the outstanding amount as specified in the recovery certificate
  • Failure to comply may result in further enforcement actions including asset attachment and recovery proceedings
  • The notice serves as formal demand for payment of dues determined by SEBI

Important Dates

  • Recovery Certificate Date: October 27, 2025
  • Payment deadline and amount details would be specified in the complete recovery certificate document

Impact Assessment

Individual Impact: High impact on Anup Karwa as the recovery certificate enables SEBI to initiate coercive recovery measures including attachment of assets, bank accounts, and other properties until the dues are recovered.

Company Impact: Medium impact on Setubandhan Infrastructure Limited (formerly Prakash Constrowell Limited) as this action relates to past matters and may affect the company’s reputation and regulatory standing.

Market Impact: Low to medium impact. The notice is specific to an individual and a particular company. However, it demonstrates SEBI’s continued enforcement efforts in recovering dues from regulatory proceedings.

Investor Considerations: Investors in Setubandhan Infrastructure Limited should be aware of this enforcement action and any underlying regulatory proceedings that led to this recovery certificate. The action suggests past compliance issues or violations that resulted in monetary penalties.

Impact Justification

Recovery certificate issued for enforcement of regulatory dues. Impact limited to specific individual and company. Indicates ongoing enforcement action by SEBI.