Description

SEBI issues General Remittance Order for recovery proceedings against Saurabh Ashok Shinde in connection with Generic Engineering Construction and Project Limited under Recovery Certificate No. 8915 of 2025.

Summary

SEBI has issued a General Remittance Order dated December 01, 2025, under Recovery Certificate (RC) No. 8915 of 2025 against Saurabh Ashok Shinde in the matter of Generic Engineering Construction and Project Limited. This order is part of SEBI’s recovery proceedings to enforce compliance with regulatory orders and recover outstanding dues.

Key Points

  • Recovery Certificate Number: RC No. 8915 of 2025
  • Order Date: December 01, 2025
  • Entity Against Whom Order is Issued: Saurabh Ashok Shinde
  • Related Company: Generic Engineering Construction and Project Limited
  • Nature: General Remittance Order for recovery proceedings
  • Issued by: Securities and Exchange Board of India (SEBI)

Regulatory Changes

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

Compliance Requirements

  • Saurabh Ashok Shinde is required to comply with the recovery certificate issued by SEBI
  • Banks and financial institutions are required to attach and remit funds as per the recovery order
  • The individual must settle outstanding dues as determined by SEBI
  • Non-compliance may result in further enforcement actions including attachment of bank accounts and demat accounts

Important Dates

  • Order Date: December 01, 2025
  • Recovery Certificate Number: RC No. 8915 of 2025

Impact Assessment

Direct Impact:

  • Saurabh Ashok Shinde faces recovery proceedings with potential attachment of assets
  • Generic Engineering Construction and Project Limited may face reputational concerns
  • Banks and depositories must comply with attachment orders when received

Market Impact:

  • Potential negative sentiment for Generic Engineering Construction and Project Limited
  • Demonstrates SEBI’s active enforcement of recovery proceedings
  • Indicates unresolved compliance or financial obligations related to the company

Compliance Impact:

  • Highlights importance of timely compliance with SEBI orders and dues
  • Recovery proceedings serve as deterrent for non-compliance
  • Individuals associated with companies must ensure personal compliance with regulatory obligations

Impact Justification

Recovery proceedings indicate serious enforcement action for non-compliance with SEBI orders or dues. High severity as it involves formal recovery process against an individual in relation to a listed company matter.