Notice of Attachment of Bank Accounts dated November 17, 2025 under RC 8931 of 2025 against Anup Karwa (PAN - BFNPK5368C) in the matter of Prakash Constrowell Limited (now Setubandhan Infrastructure Limited)

Description

SEBI has issued a notice of attachment of bank accounts against Anup Karwa (PAN - BFNPK5368C) in recovery proceedings under RC 8931 of 2025 related to Prakash Constrowell Limited (now Setubandhan Infrastructure Limited).

Summary

SEBI has issued a notice of attachment of bank accounts dated November 17, 2025, against Anup Karwa (PAN - BFNPK5368C) under Recovery Certificate No. 8931 of 2025. This action is related to recovery proceedings in the matter of Prakash Constrowell Limited, which has been renamed to Setubandhan Infrastructure Limited. The attachment order is part of SEBI’s enforcement and recovery mechanism to collect outstanding dues.

Key Points

• Notice issued against: Anup Karwa (PAN - BFNPK5368C)
• Recovery Certificate Number: RC 8931 of 2025
• Date of Notice: November 17, 2025
• Related Company: Prakash Constrowell Limited (now Setubandhan Infrastructure Limited)
• Action Type: Attachment of bank accounts
• Authority: Securities and Exchange Board of India (SEBI)

Regulatory Changes

No regulatory changes. This is an enforcement action under existing SEBI recovery provisions.

Compliance Requirements

• Banks are required to attach the specified bank accounts of Anup Karwa as per the notice
• The individual is prohibited from operating the attached bank accounts
• Banks must remit the attached amounts to SEBI as per recovery certificate directions

Important Dates

• Notice Date: November 17, 2025

Impact Assessment

Individual Impact: High - Bank account attachment severely restricts the individual’s ability to conduct financial transactions and indicates serious regulatory non-compliance or unpaid obligations.

Company Impact: High - The enforcement action against an individual associated with Prakash Constrowell Limited (now Setubandhan Infrastructure Limited) may indicate broader compliance issues and could affect investor confidence in the company.

Market Impact: Medium - While this is an individual enforcement action, it signals SEBI’s active pursuit of recovery in matters related to listed entities, reinforcing regulatory oversight.

Impact Justification

Bank account attachment orders represent severe enforcement action by SEBI indicating recovery proceedings for unpaid dues, significantly impacting the individual and potentially the associated company