Description

SEBI issues notice for attachment of bank accounts under Recovery Certificate No. 8930 of 2025 against Anup Karwa (PAN: BFNPK5368C) in the matter of Prakash Constrowell Limited (now Setubandhan Infrastructure Limited).

Summary

SEBI has issued a notice for attachment of bank accounts under Recovery Certificate No. 8930 of 2025 dated November 17, 2025, against Anup Karwa (PAN: BFNPK5368C). This enforcement action is related to the matter of Prakash Constrowell Limited, which is now known as Setubandhan Infrastructure Limited. The notice is part of SEBI’s recovery proceedings to enforce compliance and collect dues.

Key Points

  • Recovery Certificate No. 8930 of 2025 issued on November 17, 2025
  • Enforcement action targets Anup Karwa (PAN: BFNPK5368C)
  • Related to Prakash Constrowell Limited (now Setubandhan Infrastructure Limited)
  • Notice authorizes attachment of bank accounts for recovery purposes
  • Part of SEBI’s enforcement and recovery mechanism

Regulatory Changes

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

Compliance Requirements

  • Banks and financial institutions are required to comply with the attachment notice
  • Anup Karwa’s bank accounts subject to attachment as per the recovery certificate
  • Financial institutions must freeze and report attached accounts as directed

Important Dates

  • November 17, 2025: Date of Recovery Certificate No. 8930 of 2025
  • November 17, 2025: Date of notice of attachment of bank accounts

Impact Assessment

Market Impact: Low - This is an individual enforcement action with minimal direct market impact.

Operational Impact: High for the individual (Anup Karwa) whose bank accounts are being attached. Banks holding accounts of the individual will need to comply with the attachment notice.

Company Impact: Indirect impact on Setubandhan Infrastructure Limited (formerly Prakash Constrowell Limited) as the enforcement action relates to matters involving the company, though the notice targets an individual specifically.

Impact Justification

Enforcement action against individual related to listed company; limited broader market impact but significant for involved parties