Notice of Attachment of Bank Accounts and Demat Accounts - AP No. 14978 & 14979/2025 against Laxman Dhananjay Gunde

Description

SEBI issues notice of attachment of bank accounts and demat accounts against defaulter Laxman Dhananjay Gunde (PAN: AMAPG3827H) in the matter of Generic Engineering Construction and Projects Limited under Recovery Certificate No. 8918 of 2025.

Summary

SEBI has issued a Notice of Attachment of Bank Accounts and Demat Accounts under Attachment Proceeding (AP) Nos. 14978 and 14979 of 2025 dated October 27, 2025, against Laxman Dhananjay Gunde (PAN: AMAPG3827H) as a defaulter in the matter of Generic Engineering Construction and Projects Limited. This enforcement action is being taken under Recovery Certificate No. 8918 of 2025 to recover dues from the defaulter.

Key Points

• Defaulter Identified: Laxman Dhananjay Gunde (PAN: AMAPG3827H)
• Attachment Proceeding Numbers: AP No. 14978 and 14979 of 2025
• Recovery Certificate Number: RC No. 8918 of 2025
• Related Entity: Generic Engineering Construction and Projects Limited
• Date of Notice: October 27, 2025
• Type of Attachment: Bank Accounts and Demat Accounts

Regulatory Changes

No new regulatory changes introduced. This is an enforcement action under existing SEBI recovery mechanisms.

Compliance Requirements

• Banks and depository participants must comply with the attachment order
• The defaulter’s bank accounts and demat accounts will be attached/frozen as per the notice
• Financial institutions holding accounts of the defaulter must cooperate with SEBI’s recovery proceedings

Important Dates

• Notice Date: October 27, 2025
• Attachment Proceeding Date: October 27, 2025

Impact Assessment

Severity: High for the individual/entity involved

Market Impact: Low - This is an enforcement action against a specific individual in relation to Generic Engineering Construction and Projects Limited. While it demonstrates SEBI’s active enforcement of recovery proceedings, it has limited broader market implications.

Affected Parties:

• Laxman Dhananjay Gunde (defaulter)
• Generic Engineering Construction and Projects Limited
• Banks and depository participants holding the defaulter’s accounts

Enforcement Context: This action is part of SEBI’s ongoing efforts to recover dues through attachment of assets when entities or individuals default on their obligations. The attachment of both bank accounts and demat accounts indicates comprehensive action to secure recoverable amounts.

Impact Justification

Enforcement action against individual defaulter. High severity for the named person but limited broader market impact. Important for tracking regulatory enforcement but affects specific entity only.