Description

SEBI has issued a notice of attachment under Recovery Certificate No. 8916 of 2025 against Moglesh Chanappa Koni in connection with Generic Engineering Construction and Project Limited for recovery of dues.

Summary

The Securities and Exchange Board of India (SEBI) has issued a Notice of Attachment dated 27.10.2025 under Recovery Certificate No. 8916 of 2025 against Moglesh Chanappa Koni. This notice is in connection with matters relating to Generic Engineering Construction and Project Limited. The attachment notice is a legal enforcement mechanism used by SEBI to recover outstanding dues from individuals or entities who have failed to pay penalties, disgorgement amounts, or other financial obligations arising from regulatory proceedings.

Key Points

  • Notice of Attachment issued under Recovery Certificate No. 8916 of 2025
  • Action taken against Moglesh Chanappa Koni
  • Related to Generic Engineering Construction and Project Limited
  • Part of SEBI’s enforcement and recovery proceedings
  • Attachment of assets/bank accounts may be executed to recover dues
  • Legal action initiated for non-payment of regulatory dues

Regulatory Changes

No new regulatory changes. This is an enforcement action under existing SEBI recovery mechanisms and powers granted under the SEBI Act, 1992.

Compliance Requirements

  • Moglesh Chanappa Koni must comply with the recovery certificate and pay the outstanding dues
  • Failure to comply may result in attachment and sale of assets
  • The individual may need to respond to the attachment notice within the specified timeframe
  • Any party holding assets or funds of the named individual must comply with the attachment order

Important Dates

  • Notice Date: 27.10.2025
  • Recovery Certificate No.: 8916 of 2025

Impact Assessment

Market Impact: Limited direct market impact, though related to Generic Engineering Construction and Project Limited

Investor Impact: High impact on the named individual (Moglesh Chanappa Koni) whose assets may be attached. Investors in Generic Engineering should note the ongoing regulatory proceedings.

Compliance Impact: Demonstrates SEBI’s active enforcement of recovery proceedings against individuals who fail to pay regulatory dues

Operational Impact: Attachment of bank accounts and assets will impact the financial operations and liquidity of the named individual

Impact Justification

Attachment notices under recovery certificates are serious enforcement actions indicating SEBI's efforts to recover dues from defaulters. This directly impacts the individual named (Moglesh Chanappa Koni) and relates to Generic Engineering Construction and Project Limited, indicating potential regulatory violations and financial irregularities that resulted in dues owed to SEBI.