Description
SEBI announces completion of recovery proceedings against Wellindia Securities Limited (formerly Stock Brain Net Ltd., now Brain Strong Consulting Limited) related to dealings in illiquid stock options at BSE under Recovery Certificate No. 8549 of 2025 dated January 16, 2025.
Summary
SEBI has announced the completion of recovery proceedings under Recovery Certificate No. 8549 of 2025 dated January 16, 2025, issued against Wellindia Securities Limited (PAN: AABCR5196G). The entity was previously known as Stock Brain Net Ltd. and is currently operating as Brain Strong Consulting Limited. The recovery proceedings were related to the entity’s dealings in illiquid stock options at the Bombay Stock Exchange (BSE).
Key Points
- Recovery Certificate No. 8549 of 2025 has been completed
- Recovery Certificate was issued on January 16, 2025
- Defaulter: Wellindia Securities Limited (erstwhile Stock Brain Net Ltd., now Brain Strong Consulting Limited)
- PAN of defaulter entity: AABCR5196G
- Violation pertains to dealings in illiquid stock options at BSE
- This is a completion notice indicating the recovery process has concluded
Regulatory Changes
No new regulatory changes are introduced. This circular represents the completion of existing recovery proceedings.
Compliance Requirements
No new compliance requirements. This is a notification of completed recovery proceedings against a specific defaulter entity.
Important Dates
- January 16, 2025: Original date of Recovery Certificate No. 8549 of 2025
- November 24, 2025: Announcement of completion of recovery proceedings
Impact Assessment
Market Impact: Low - This relates to completed enforcement action against a single entity for past violations.
Operational Impact: The completion of recovery proceedings indicates that SEBI has concluded its recovery efforts against Wellindia Securities Limited for violations related to illiquid stock options trading at BSE. This serves as a record of enforcement action completion and may have implications for the entity’s regulatory standing.
Entity-Specific Impact: High for the defaulter entity (Wellindia Securities/Brain Strong Consulting) as it marks the conclusion of recovery proceedings, which may affect the entity’s ability to operate in securities markets or seek regulatory approvals.
Impact Justification
Completion of recovery proceedings indicates closure of enforcement action against a specific defaulter entity. High severity due to enforcement nature, medium impact as it relates to a single entity's historical violations.