Description
SEBI issues notice of attachment of demat account for recovery proceedings against Mitesh Kaniyalal Thakkar in the matter of SMS Techsoft (India) Limited under Recovery Certificate No. 5550 of 2022.
Summary
SEBI has issued a compliance order for the attachment of demat account belonging to Mitesh Kaniyalal Thakkar as part of recovery proceedings under Recovery Certificate No. 5550 of 2022. This action is related to the matter of SMS Techsoft (India) Limited and represents SEBI’s enforcement measures to recover dues.
Key Points
- Notice of attachment issued for demat account of Mitesh Kaniyalal Thakkar
- Related to Recovery Certificate No. 5550 of 2022
- Connected to SMS Techsoft (India) Limited matter
- Part of SEBI’s recovery enforcement proceedings
- Attachment order issued for compliance and recovery purposes
Regulatory Changes
No new regulatory changes. This is an enforcement action under existing SEBI recovery mechanisms.
Compliance Requirements
- Depositories and depository participants must comply with the attachment order
- Freezing of specified demat account holdings as per SEBI directive
- No transactions permitted in the attached demat account until further orders
- Entities holding the demat account must acknowledge and implement the attachment
Important Dates
- Order Date: November 28, 2025
- Recovery Certificate: No. 5550 of 2022
Impact Assessment
This order has limited market impact as it pertains to a specific individual’s demat account in relation to recovery proceedings. The attachment is part of SEBI’s standard enforcement and recovery process. Market participants should note SEBI’s continued focus on recovery of dues and enforcement of compliance orders. The action does not affect broader market operations or trading in SMS Techsoft (India) Limited securities.
Impact Justification
High severity due to enforcement action and demat attachment, but low market impact as it affects a specific individual. Medium importance for compliance tracking purposes.