Description
SEBI issues notice of attachment of bank account for recovery proceedings against Mitesh Kaniyalal Thakkar in the matter of SMS Techsoft (India) Limited under Recovery Certificate No. 4514 of 2022.
Summary
SEBI has issued a Notice of Attachment of Bank Account under Recovery Certificate No. 4514 of 2022 against Mitesh Kaniyalal Thakkar in relation to recovery proceedings in the matter of SMS Techsoft (India) Limited. This enforcement action involves attachment of bank accounts as part of SEBI’s debt recovery process.
Key Points
- Recovery Certificate No. 4514 of 2022 issued against Mitesh Kaniyalal Thakkar
- Matter relates to SMS Techsoft (India) Limited
- Notice of Attachment of Bank Account issued as part of recovery proceedings
- Order dated November 28, 2025
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing SEBI recovery regulations.
Compliance Requirements
- Banks and financial institutions must comply with the attachment order
- Attached bank accounts cannot be operated without SEBI’s permission
- Mitesh Kaniyalal Thakkar must comply with recovery proceedings
Important Dates
- Order Date: November 28, 2025
- Recovery Certificate: No. 4514 of 2022
Impact Assessment
Market Impact: Low - This is an individual enforcement action with no direct market-wide implications.
Operational Impact: High for the individual involved - bank account attachment restricts financial operations and is part of debt recovery enforcement by SEBI in the SMS Techsoft (India) Limited matter.
Impact Justification
High severity for the individual entity involved (bank account attachment), but low market impact as this is an enforcement action against a specific person related to SMS Techsoft (India) Limited recovery proceedings.