Description
SEBI issues notice of attachment of bank account for recovery of dues against Mitesh Kaniyalal Thakkar in the matter of SMS Techsoft (India) Limited under Recovery Certificate No. 4511 of 2022.
Summary
SEBI has issued a notice of attachment of bank account against Mitesh Kaniyalal Thakkar for recovery of outstanding dues under Recovery Certificate No. 4511 of 2022. This order relates to proceedings in the matter of SMS Techsoft (India) Limited. The attachment is a coercive measure to enforce payment of amounts determined to be due to SEBI.
Key Points
- Recovery Certificate No. 4511 of 2022 issued against Mitesh Kaniyalal Thakkar
- Notice of attachment of bank account issued for non-payment of dues
- Related to the matter of SMS Techsoft (India) Limited
- Enforcement action under SEBI’s recovery proceedings mechanism
- Document dated November 28, 2025
Regulatory Changes
No new regulatory changes introduced. This is an enforcement order under existing SEBI recovery procedures.
Compliance Requirements
- Mitesh Kaniyalal Thakkar must comply with the recovery certificate and pay outstanding dues to SEBI
- Banks are required to comply with the attachment order and freeze/attach specified bank accounts
- Non-compliance may lead to further coercive measures including attachment of other assets
Important Dates
- Order Date: November 28, 2025
- Recovery Certificate No.: 4511 of 2022
Impact Assessment
Market Impact: Limited direct market impact, though related to SMS Techsoft (India) Limited.
Operational Impact: High impact on the individual named (Mitesh Kaniyalal Thakkar) whose bank account is being attached. This represents serious enforcement action by SEBI to recover dues.
Compliance Impact: Demonstrates SEBI’s continued use of recovery certificate proceedings and bank attachment mechanisms for enforcement of payment obligations. Serves as a reminder to market participants to comply with SEBI orders and pay determined dues promptly to avoid coercive recovery measures.
Impact Justification
Bank account attachment order under recovery certificate proceedings indicates serious enforcement action for non-compliance with SEBI dues