Description
SEBI issues prohibitory order for Recovery Certificate No. 6461 of 2023 against nine individuals including Lakhani Babulal Hansraj, Ramanlal Ravchand Shah, and others in the matter of BFL Asset Finvest Ltd (formerly BFL Developers Ltd).
Summary
SEBI has issued a prohibitory order under Recovery Certificate No. 6461 of 2023 against nine individuals - Lakhani Babulal Hansraj, Ramanlal Ravchand Shah, Bhagavatiben Vishnubhai Patel, Dhirajbhai Baladevji Thakor, Vinod Solanki, Jasmin Indu Shah, Mahendrabhai Naranbhai Patel, Pinesh Nareshkumar Shah, and Bharti Sharma - in connection with the matter of BFL Asset Finvest Ltd (formerly known as BFL Developers Ltd). This order is part of SEBI’s enforcement and recovery proceedings.
Key Points
- Prohibitory order issued against nine named individuals
- Recovery Certificate No. 6461 of 2023
- Related to BFL Asset Finvest Ltd (formerly BFL Developers Ltd)
- Part of SEBI’s debt recovery and enforcement mechanism
- Order issued on November 27, 2025
Regulatory Changes
No new regulatory framework introduced. This is an enforcement action under existing recovery procedures.
Compliance Requirements
- The nine named individuals are subject to the prohibitory order
- Restrictions apply as per the recovery certificate provisions
- Parties must comply with SEBI’s recovery proceedings
- Non-compliance may result in further enforcement action
Important Dates
- Order Date: November 27, 2025
- Recovery Certificate No.: 6461 of 2023
Impact Assessment
This prohibitory order has high impact on the nine individuals named but limited broader market impact. It demonstrates SEBI’s continued enforcement of debt recovery mechanisms against entities and individuals who have outstanding obligations. The order affects BFL Asset Finvest Ltd stakeholders and serves as a reminder of regulatory consequences for non-compliance with SEBI directives and financial obligations.
Impact Justification
Prohibitory order affects nine individuals in recovery proceedings related to BFL Asset Finvest Ltd, indicating enforcement action for debt recovery but limited broader market impact