Description
SEBI issues notice of bank account attachment 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 notice of attachment of bank account(s) for recovery proceedings against Mitesh Kaniyalal Thakkar under Recovery Certificate No. 5550 of 2022 in the matter of SMS Techsoft (India) Limited. This order is part of SEBI’s enforcement and debt recovery mechanism.
Key Points
- Recovery Certificate Number: 5550 of 2022
- Person Against Whom Action Taken: Mitesh Kaniyalal Thakkar
- Related Entity: SMS Techsoft (India) Limited
- Action Type: Bank Account Attachment
- Order Date: November 28, 2025
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing SEBI recovery provisions.
Compliance Requirements
- Banks and financial institutions must comply with the attachment notice
- Mitesh Kaniyalal Thakkar’s bank accounts subject to attachment for recovery of outstanding dues
- Non-compliance with the attachment order may attract penalties
Important Dates
- Order Date: November 28, 2025
- Recovery Certificate Issue Year: 2022
Impact Assessment
Market Impact: High - Enforcement action against individual associated with listed entity SMS Techsoft (India) Limited may affect investor confidence
Operational Impact: High - Bank account attachment restricts financial operations of the concerned individual and indicates serious compliance violations
Legal Impact: High - Recovery proceedings indicate outstanding financial obligations to SEBI, possible follow-up actions if recovery not completed
Investor Impact: High - Signals regulatory action in SMS Techsoft matter, investors should monitor developments
Impact Justification
High severity enforcement action involving bank account attachment for recovery of dues in SMS Techsoft matter, indicating significant compliance breach and financial recovery proceedings