Description

SEBI issues notice of attachment of bank account for recovery proceedings against Mitesh Kaniyalal Thakkar in connection with Recovery Certificate No. 5549 of 2022 related to SMS Techsoft (India) Limited.

Summary

SEBI has issued an order for compliance through a notice of attachment of bank account against Mitesh Kaniyalal Thakkar in connection with Recovery Certificate No. 5549 of 2022 relating to the matter of SMS Techsoft (India) Limited. This enforcement action represents SEBI’s efforts to recover outstanding amounts through attachment of the concerned party’s bank account.

Key Points

  • Recovery Certificate No. 5549 of 2022 issued against Mitesh Kaniyalal Thakkar
  • Enforcement action involves attachment of bank account
  • Related to SMS Techsoft (India) Limited matter
  • Part of SEBI’s recovery proceedings for outstanding dues

Regulatory Changes

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

Compliance Requirements

  • Banks are required to comply with the attachment notice
  • Mitesh Kaniyalal Thakkar must comply with recovery proceedings
  • Affected party must settle outstanding dues as per the recovery certificate

Important Dates

  • Order Date: November 28, 2025
  • Recovery Certificate: No. 5549 of 2022

Impact Assessment

This enforcement action has high impact on the individual (Mitesh Kaniyalal Thakkar) as bank account attachment significantly restricts financial operations. The action demonstrates SEBI’s commitment to enforcing compliance and recovering dues from defaulters. For the broader market, this serves as a deterrent and reinforces the consequences of non-compliance with SEBI regulations. The matter is linked to SMS Techsoft (India) Limited, though the specific nature of the original violation or dues is not detailed in the available information.

Impact Justification

High impact on individual (Mitesh Kaniyalal Thakkar) with bank account attachment for recovery proceedings. Medium importance as it affects specific individual rather than broader market participants.