Description
SEBI issues notice of attachment of demat account belonging to Mitesh Kaniyalal Thakkar in the matter of SMS Techsoft (India) Limited under Recovery Certificate No. 4519 of 2022.
Summary
SEBI has issued a Notice of Attachment of Demat Account pursuant to Recovery Certificate No. 4519 of 2022 against Mitesh Kaniyalal Thakkar in connection with the matter of SMS Techsoft (India) Limited. This enforcement action is part of SEBI’s debt recovery proceedings under its regulatory powers.
Key Points
- Recovery Certificate Number: 4519 of 2022
- Party against whom action is taken: Mitesh Kaniyalal Thakkar
- Type of action: Attachment of Demat Account
- Related entity: SMS Techsoft (India) Limited
- Document issued: Notice of Attachment
Regulatory Changes
No new regulatory changes. This is an enforcement action under existing SEBI recovery provisions.
Compliance Requirements
- Depository Participants and depositories are required to comply with the attachment order
- The demat account holder (Mitesh Kaniyalal Thakkar) must comply with SEBI’s recovery proceedings
- No transactions or withdrawals from the attached demat account shall be permitted until further orders
- Market participants should note this enforcement action for due diligence purposes
Important Dates
- Order Date: November 28, 2025
- Recovery Certificate: No. 4519 of 2022
Impact Assessment
Market Impact: High - This enforcement action demonstrates SEBI’s active pursuit of debt recovery and compliance enforcement. The attachment of demat accounts is a serious measure indicating significant outstanding liabilities.
Investor Impact: High - Investors and creditors of SMS Techsoft (India) Limited should be aware of ongoing recovery proceedings. The attachment affects the ability of Mitesh Kaniyalal Thakkar to deal with securities in the attached demat account.
Operational Impact: The order directly impacts the demat account operations of the named individual and requires compliance by depositories and depository participants.
Impact Justification
Enforcement action involving attachment of demat account for debt recovery indicates serious compliance issues and potential investor protection concerns