Description
SEBI issues Notice of Demand under Recovery Certificate No. 8928 of 2025 dated October 27, 2025 against Prafulla Subhash Chandra Bhat (PAN: AMEPB0155F) in the matter of Prakash Constrowell Limited (now Setubandhan Infrastructure Limited).
Summary
SEBI has issued a Notice of Demand under Recovery Certificate No. 8928 of 2025 dated October 27, 2025 against Prafulla Subhash Chandra Bhat (PAN: AMEPB0155F). This notice is issued in connection with the matter of Prakash Constrowell Limited, which is now known as Setubandhan Infrastructure Limited. The recovery certificate represents SEBI’s enforcement action to recover dues from the individual.
Key Points
- Recovery Certificate No. 8928 of 2025 issued on October 27, 2025
- Notice issued against: Prafulla Subhash Chandra Bhat
- PAN of the individual: AMEPB0155F
- Related entity: Prakash Constrowell Limited (now Setubandhan Infrastructure Limited)
- Legal instrument: Notice of Demand under recovery proceedings
- This is an enforcement action by SEBI
Regulatory Changes
No regulatory framework changes. This is an individual enforcement action under existing SEBI recovery proceedings framework.
Compliance Requirements
- The individual named in the recovery certificate is required to comply with the demand notice
- Payment of dues as specified in the recovery certificate
- Non-compliance may lead to further enforcement actions including attachment of assets
- The notice carries legal implications under SEBI enforcement provisions
Important Dates
- Recovery Certificate Date: October 27, 2025
- Notice Issue Date: October 27, 2025
- Payment deadline and other specific dates would be mentioned in the detailed notice
Impact Assessment
Individual Impact: High impact on Prafulla Subhash Chandra Bhat who is subject to recovery proceedings. This may involve attachment of bank accounts, demat accounts, and other assets if the demand is not complied with.
Company Impact: Medium impact on Setubandhan Infrastructure Limited (formerly Prakash Constrowell Limited) as the recovery action is connected to matters involving this entity. Stakeholders and investors should be aware of ongoing enforcement proceedings.
Market Impact: Limited direct market impact as this is an individual enforcement action, though it may affect investor sentiment regarding the related listed entity.
Legal Implications: The recovery certificate is a legal instrument that empowers SEBI to pursue recovery of dues through attachment and sale of assets if voluntary compliance is not forthcoming.
Impact Justification
Recovery certificate issued against individual in connection with Prakash Constrowell Limited (now Setubandhan Infrastructure Limited). Medium impact as it affects specific individual and company, relevant for stakeholders of the listed entity.