Description
SEBI issues Release Order for Recovery Certificate No. 4580 of 2022 involving four individuals related to SMS Techsoft (India) Ltd.
Summary
SEBI has issued a Release Order for Recovery Certificate No. 4580 of 2022 against Karan Kirtibhai Shah, Keval Kirtikumar Shah, Alkaben Kirtibhai Shah, and Kirtibhai Rasiklal Shah in the matter of SMS Techsoft (India) Ltd. This order releases certain obligations or attachments related to the recovery proceedings.
Key Points
- Recovery Certificate No. 4580 of 2022
- Four individuals involved: Karan Kirtibhai Shah, Keval Kirtikumar Shah, Alkaben Kirtibhai Shah, and Kirtibhai Rasiklal Shah
- Related to SMS Techsoft (India) Ltd. matter
- Release Order issued by SEBI
- Published on November 28, 2025
Regulatory Changes
No new regulatory changes introduced. This is an enforcement/compliance action.
Compliance Requirements
The release order likely lifts certain restrictions or attachments on the named individuals’ accounts or properties that were previously imposed under the recovery certificate proceedings.
Important Dates
- Recovery Certificate Date: 2022 (Certificate No. 4580)
- Release Order Date: November 28, 2025
- Publication Date: December 2025
Impact Assessment
This is a case-specific enforcement action with limited broader market impact. The release order suggests resolution or partial resolution of the recovery proceedings against the named individuals in relation to SMS Techsoft (India) Ltd. The impact is confined to the specific parties involved and does not affect general market participants or trading operations.
Impact Justification
Release order for recovery certificate involving specific individuals; limited broader market impact