Description
SEBI order for compliance completion of Recovery Certificate No. 5554 of 2022 against Keval Kirtikumr Shah (PAN: DFNPS6796L) in the matter of SMS Techsoft (India) Limited.
Summary
SEBI has issued a compliance completion order for Recovery Certificate No. 5554 of 2022 against Keval Kirtikumr Shah (PAN: DFNPS6796L) in the matter of SMS Techsoft (India) Limited. This order relates to recovery proceedings initiated by SEBI for enforcement of regulatory dues or penalties.
Key Points
- Recovery Certificate No. 5554 of 2022 issued against Keval Kirtikumr Shah
- PAN of defaulter: DFNPS6796L
- Matter relates to SMS Techsoft (India) Limited
- Compliance completion order indicates conclusion of recovery proceedings
- Order published on November 19, 2025
Regulatory Changes
No regulatory framework changes. This is an individual enforcement action.
Compliance Requirements
- The named individual (Keval Kirtikumr Shah) was subject to recovery proceedings
- Compliance completion suggests recovery action has been concluded
- Other market participants are not directly affected by this order
Important Dates
- Recovery Certificate issued: 2022
- Compliance completion order date: November 19, 2025
Impact Assessment
Market Impact: Low - This is an individual recovery action with no broader market implications.
Compliance Impact: High for the named individual; minimal for other market participants.
Operational Impact: Limited to the specific case involving Keval Kirtikumr Shah and SMS Techsoft (India) Limited. This order represents the conclusion of recovery proceedings under the recovery certificate.
Impact Justification
Recovery certificate completion order against individual defaulter. High severity for the named person but low market impact as it relates to specific enforcement action.