Description
SEBI issues Notice of Demand under Recovery Certificate number 8963 of 2025 to Nitin Kumar Garg (PAN: AIXPG1991K) in connection with suspected insider trading activity in the scrip of Nucleus Software Exports Limited.
Summary
SEBI has issued a Notice of Demand under Recovery Certificate number 8963 of 2025 dated December 01, 2025 to Nitin Kumar Garg (PAN: AIXPG1991K) in connection with suspected insider trading activity in the scrip of M/s Nucleus Software Exports Limited. This notice is part of SEBI’s enforcement action to recover dues from entities found to have violated insider trading regulations.
Key Points
- Recovery Certificate Number: 8963 of 2025
- Date of Issue: December 01, 2025
- Entity: Nitin Kumar Garg (PAN: AIXPG1991K)
- Matter: Suspected insider trading activity in Nucleus Software Exports Limited
- Nature: Notice of Demand for recovery proceedings
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing SEBI (Prohibition of Insider Trading) Regulations.
Compliance Requirements
- Nitin Kumar Garg is required to comply with the demand notice and pay the amounts specified in the recovery certificate
- Failure to comply may result in further enforcement actions including attachment of bank accounts and demat accounts
- The individual must respond to the notice within the stipulated timeframe as per recovery regulations
Important Dates
- December 01, 2025: Date of issuance of Recovery Certificate No. 8963 of 2025
Impact Assessment
Market Impact: Low - This is an individual enforcement action and does not directly affect market operations or the listed company Nucleus Software Exports Limited.
Compliance Impact: High for the individual concerned - Recovery proceedings can lead to attachment of assets if demands are not met.
Broader Significance: Demonstrates SEBI’s continued vigilance and enforcement against insider trading violations, serving as a deterrent for market participants engaging in such activities.
Impact Justification
High severity enforcement action against an individual for insider trading violations. Low market impact as it pertains to a specific individual rather than broader market participants or listed entity operations. Medium importance for compliance monitoring and enforcement tracking.