Description

SEBI issues notice of attachment of bank account for recovery proceedings against Mitesh Kaniyalal Thakkar in connection with Recovery Certificate No. 4519 of 2022 related to SMS Techsoft (India) Limited.

Summary

SEBI has issued a Notice of Attachment of Bank Account as part of recovery proceedings under Recovery Certificate No. 4519 of 2022. The enforcement action is directed against Mitesh Kaniyalal Thakkar in relation to the matter of SMS Techsoft (India) Limited. This notice represents a compliance enforcement measure to recover dues or penalties imposed by SEBI.

Key Points

  • Recovery Certificate No. 4519 of 2022 issued against Mitesh Kaniyalal Thakkar
  • Notice of attachment targets bank account(s) for recovery of dues
  • Action relates to the matter of SMS Techsoft (India) Limited
  • Enforcement mechanism under SEBI’s recovery of money procedures
  • Issued on November 28, 2025

Regulatory Changes

No new regulatory changes. This is an enforcement action under existing SEBI recovery procedures.

Compliance Requirements

  • The named individual (Mitesh Kaniyalal Thakkar) must comply with the bank account attachment order
  • Banks holding accounts of the named individual are required to comply with the attachment notice
  • Non-compliance may result in further enforcement actions
  • Recovery proceedings will continue until outstanding dues are recovered

Important Dates

  • Order Date: November 28, 2025
  • Recovery Certificate No.: 4519 of 2022

Impact Assessment

High Impact: This enforcement action involves attachment of bank accounts, which is a serious compliance enforcement measure. It indicates that SEBI is actively pursuing recovery of dues or penalties imposed in connection with SMS Techsoft (India) Limited. The action against Mitesh Kaniyalal Thakkar suggests unresolved regulatory violations or financial obligations. Investors and stakeholders of SMS Techsoft (India) Limited should be aware of ongoing regulatory proceedings and their potential financial implications for the company and its related parties.

Impact Justification

Enforcement action involving bank account attachment for recovery proceedings indicates serious regulatory non-compliance and financial penalties being enforced against entities related to SMS Techsoft (India) Limited