Description
SEBI issues recovery certificate demanding payment from Prafulla Subhash Chandra Bhat (PAN: AMEPB0155F) in the matter of Prakash Constrowell Limited (now Setubandhan Infrastructure Limited).
Summary
SEBI has issued Recovery Certificate No. 8929 of 2025 dated October 27, 2025 against Prafulla Subhash Chandra Bhat (PAN: AMEPB0155F) demanding payment of outstanding dues in connection with the matter of Prakash Constrowell Limited, which is now known as Setubandhan Infrastructure Limited. This notice represents formal enforcement action to recover amounts determined to be due.
Key Points
- Recovery Certificate No. 8929 of 2025 issued on October 27, 2025
- Notice directed against Prafulla Subhash Chandra Bhat (PAN: AMEPB0155F)
- Related to matter involving Prakash Constrowell Limited (now Setubandhan Infrastructure Limited)
- Formal demand for payment of outstanding amounts
- Enforcement action initiated under SEBI recovery procedures
Regulatory Changes
No new regulatory changes introduced. This notice represents application of existing SEBI enforcement and recovery mechanisms.
Compliance Requirements
- Prafulla Subhash Chandra Bhat is required to pay the demanded amount as specified in the recovery certificate
- Payment must be made within the timeframe specified in the notice
- Non-compliance may result in further enforcement actions including attachment of assets
Important Dates
- October 27, 2025: Date of Recovery Certificate No. 8929 issuance
- Payment deadline to be specified in the detailed notice
Impact Assessment
Individual Impact: High - Direct financial liability imposed on named individual with potential asset attachment consequences.
Company Impact: Medium - Notice relates to historical matter involving Prakash Constrowell (now Setubandhan Infrastructure), may affect company reputation and stakeholder confidence.
Market Impact: Low - Individual recovery action with limited broader market implications, though signals SEBI’s continued enforcement efforts in corporate governance matters.
Impact Justification
Recovery certificate issued against individual in corporate matter; indicates enforcement action but limited market-wide impact