Description

SEBI issues remittance order for recovery certificate against Mr. Heet Manish Bapna alias Heet Manish Bafna, proprietor of Standard Chartists, in enforcement proceedings.

Summary

SEBI has issued a remittance order for Recovery Certificate No. 8419 of 2024 against Mr. Heet Manish Bapna (also known as Heet Manish Bafna), who operates as the proprietor of Standard Chartists. This order is part of SEBI’s enforcement and recovery proceedings to collect dues from the concerned party.

Key Points

  • Recovery Certificate No. 8419 of 2024 issued against Mr. Heet Manish Bapna alias Heet Manish Bafna
  • Subject is the proprietor of Standard Chartists
  • Order relates to remittance for recovery of dues
  • Action taken under SEBI’s enforcement and recovery mechanism
  • Certificate issued in November 2025

Regulatory Changes

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

Compliance Requirements

  • Mr. Heet Manish Bapna/Bafna (proprietor of Standard Chartists) is required to comply with the remittance order
  • Payment of dues as specified in Recovery Certificate No. 8419 of 2024
  • Compliance with SEBI’s recovery proceedings and directives
  • Failure to comply may result in further enforcement actions including attachment of assets or bank accounts

Important Dates

  • Recovery Certificate Date: 2024
  • Order Publication Date: November 14, 2025

Impact Assessment

Market Impact: Low to Medium - This is an individual enforcement action against a specific proprietorship firm and does not have broad market implications.

Entity Impact: High - The subject individual and business entity (Standard Chartists) face enforcement proceedings with potential financial and operational consequences.

Investor Impact: Minimal - Unless investors have direct dealings with Standard Chartists, this order has limited direct impact on the broader investor community.

Precedent Value: This action demonstrates SEBI’s continued focus on enforcement and recovery of dues from non-compliant entities and individuals in the securities market.

Impact Justification

Recovery certificate enforcement action against individual proprietor. High severity for the entity involved but medium market-wide impact as it pertains to specific enforcement proceedings.