Description
SEBI notice for attachment of demat account of Mitesh Kaniyalal Thakkar for recovery in the matter of SMS Techsoft (India) Limited under Recovery Certificate No. 5640 of 2022.
Summary
SEBI has issued a notice of attachment of demat account for Mitesh Kaniyalal Thakkar under Recovery Certificate No. 5640 of 2022 in the matter of SMS Techsoft (India) Limited. This enforcement action is part of SEBI’s recovery proceedings to collect outstanding amounts.
Key Points
- Recovery Certificate No. 5640 of 2022 issued against Mitesh Kaniyalal Thakkar
- Matter relates to SMS Techsoft (India) Limited
- Demat account attachment initiated for recovery purposes
- Notice issued for compliance with attachment order
- Action taken under SEBI’s enforcement and recovery powers
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing SEBI recovery mechanisms.
Compliance Requirements
- Depositories and depository participants must comply with the attachment order
- No transactions to be permitted in the attached demat account without SEBI approval
- Account holder restricted from operating the demat account until recovery is completed or order is modified
- All concerned parties must adhere to the attachment notice
Important Dates
- Notice Date: November 28, 2025
- Recovery Certificate: No. 5640 of 2022
Impact Assessment
This action has significant impact on the individual named in the order. The attachment of demat account prevents the account holder from conducting any securities transactions, selling holdings, or accessing their demat account. This is a serious enforcement measure typically used when other recovery efforts have been unsuccessful. Market participants should note SEBI’s active enforcement of recovery proceedings against defaulters.
Impact Justification
Demat account attachment is a serious enforcement action affecting an individual's ability to trade and hold securities. High severity due to legal enforcement nature and direct impact on account holder's rights.