Notice of Attachment of Bank Accounts and Demat Accounts - Highland Industries Limited (Recovery Certificate No. 4616 of 2022)

Description

SEBI has issued attachment orders against Highland Industries Limited's bank and demat accounts under AP No. 9582 & 9583 of 2023 for non-redressal of investor grievances.

Summary

SEBI has issued attachment orders for bank accounts and demat accounts of M/s Highland Industries Limited (PAN: AABCH4352G) under Attachment Proceedings No. 9582 and 9583 of 2023, dated December 08, 2025. The action is taken under Recovery Certificate No. 4616 of 2022 in the matter of non-redressal of investor grievances. Highland Industries Limited has been classified as a defaulter.

Key Points

• Company Name: M/s Highland Industries Limited
• PAN: AABCH4352G
• Attachment Proceeding Numbers: AP No. 9582 & 9583 of 2023
• Recovery Certificate No.: 4616 of 2022
• Date of Notice: December 08, 2025
• Reason: Non-redressal of investor grievances
• Status: Defaulter

Regulatory Changes

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

Compliance Requirements

• Highland Industries Limited must comply with the attachment orders
• Bank accounts and demat accounts of the company are subject to attachment
• The company is required to settle outstanding investor grievances to resolve the recovery proceedings
• All concerned banks and depositories must comply with the attachment orders issued by SEBI

Important Dates

• December 08, 2025: Date of attachment notice
• Recovery Certificate issued: 2022 (Certificate No. 4616)

Impact Assessment

Market Impact: High - The attachment of bank and demat accounts significantly impacts the company’s operational capabilities and financial flexibility. This enforcement action sends a strong signal about SEBI’s commitment to investor protection.

Operational Impact: High - The company faces severe operational constraints with frozen bank and demat accounts, affecting its ability to conduct normal business operations and market transactions.

Investor Impact: High - Investors and stakeholders should be aware of the company’s defaulter status and the serious nature of compliance violations related to investor grievance redressal. Trading and investment decisions should factor in these enforcement actions.

Impact Justification

Enforcement action involving attachment of bank and demat accounts against a listed company for non-redressal of investor grievances, indicating serious compliance violations