Description
SEBI issues notice of bank account attachment for recovery certificate proceedings against Mitesh Kaniyalal Thakkar in SMS Techsoft (India) Limited matter.
Summary
SEBI has issued an order for compliance through a Notice of Attachment of Bank Account under Recovery Certificate No. 5552 of 2022. This enforcement action is directed against Mitesh Kaniyalal Thakkar in connection with the matter of SMS Techsoft (India) Limited. The attachment order is part of SEBI’s recovery proceedings to enforce outstanding dues or penalties.
Key Points
- Recovery Certificate No. 5552 of 2022 issued against Mitesh Kaniyalal Thakkar
- Enforcement action relates to SMS Techsoft (India) Limited matter
- Bank account attachment notice issued for recovery compliance
- Part of SEBI’s enforcement and recovery proceedings mechanism
- Action taken under applicable recovery of debts provisions
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing SEBI recovery proceedings framework.
Compliance Requirements
- Mitesh Kaniyalal Thakkar must comply with the bank account attachment order
- Affected banks must freeze/attach the specified bank accounts as per SEBI directive
- Outstanding dues under the recovery certificate must be settled
- Non-compliance may lead to further enforcement actions and penalties
Important Dates
- Order Date: November 28, 2025
- Recovery Certificate: RC No. 5552 of 2022
- Compliance required immediately upon receipt of notice
Impact Assessment
Individual Impact: High - Direct financial impact on Mitesh Kaniyalal Thakkar through bank account attachment, restricting access to funds until recovery dues are settled.
Market Impact: Medium - Signals SEBI’s continued enforcement actions in matters related to SMS Techsoft (India) Limited, reinforcing regulatory compliance standards.
Investor Impact: Low to Medium - Demonstrates regulatory oversight and recovery mechanisms for enforcement of penalties and dues, providing investor confidence in regulatory framework.
Compliance Impact: High - Highlights the consequences of non-compliance with SEBI orders and the enforcement tools available for recovery of outstanding amounts.
Impact Justification
Enforcement action involving bank account attachment for recovery proceedings indicates serious compliance violation with direct financial impact on the individual concerned