Description
SEBI issues notice of demand against Pankaj Rameshchandra Vyas and Vaishali Pankaj Vyas under Recovery Certificate No. 8945 of 2025 in connection with manipulation in the scrip of SecUR Credentials Limited.
Summary
SEBI has issued a Notice of Demand under Recovery Certificate No. 8945 of 2025 dated November 21, 2025 against Pankaj Rameshchandra Vyas (PAN: ADGPV4521L) and Vaishali Pankaj Vyas (PAN: AAPPV4036J) in connection with manipulation in the scrip of SecUR Credentials Limited. This notice is part of SEBI’s enforcement proceedings to recover outstanding dues from the parties involved in market manipulation activities.
Key Points
- Recovery Certificate No. 8945 of 2025 issued on November 21, 2025
- Notice issued against two individuals: Pankaj Rameshchandra Vyas and Vaishali Pankaj Vyas
- Matter relates to manipulation in SecUR Credentials Limited scrip
- Enforcement action for recovery of dues following adjudication or settlement proceedings
Regulatory Changes
No regulatory changes. This is an enforcement action under existing SEBI recovery framework.
Compliance Requirements
The noticees (Pankaj Rameshchandra Vyas and Vaishali Pankaj Vyas) are required to:
- Comply with the demand notice within the specified timeline
- Pay the outstanding amount as per the recovery certificate
- Failure to comply may result in further recovery proceedings including attachment of assets
Important Dates
- November 21, 2025: Date of Notice of Demand and Recovery Certificate issuance
Impact Assessment
For Noticees: High impact as recovery proceedings can lead to asset attachment and further legal consequences if the demand is not met.
For Market: Low direct impact. This is an enforcement action against specific individuals and does not affect trading or operations of SecUR Credentials Limited or broader market participants.
For SecUR Credentials Limited: Minimal operational impact, though the company name is associated with the manipulation case which may have historical reputational considerations.
Impact Justification
Recovery certificate issuance indicates serious enforcement action for market manipulation, high importance for parties involved but limited broader market impact