Description

SEBI notice for attachment of demat accounts and mutual fund folios of Ashish P Shah (PAN: AJRPS7737C) dated December 12, 2025 under Recovery Certificate 8939 of 2025 in the matter of Svarnim Trade Udyog Limited.

Summary

SEBI has issued a notice of attachment of demat accounts and mutual fund folios against Ashish P Shah (PAN: AJRPS7737C) dated December 12, 2025, under Recovery Certificate No. 8939 of 2025. This enforcement action is taken in the matter of Svarnim Trade Udyog Limited as part of SEBI’s recovery proceedings.

Key Points

  • Notice issued under Recovery Certificate No. 8939 of 2025
  • Target: Ashish P Shah (PAN: AJRPS7737C)
  • Attachment covers demat accounts and mutual fund folios
  • Related entity: Svarnim Trade Udyog Limited
  • Notice date: December 12, 2025

Regulatory Changes

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

Compliance Requirements

  • Depositories and mutual fund houses must freeze the specified demat accounts and mutual fund folios
  • No transactions to be permitted in the attached accounts until further orders
  • Entities holding the attached accounts must comply with SEBI’s recovery directions

Important Dates

  • Notice Date: December 12, 2025
  • Effective Date: December 12, 2025 (date of attachment notice)

Impact Assessment

Market Impact: Limited to specific individual and entity. This enforcement action demonstrates SEBI’s continued efforts to recover dues through attachment of financial assets.

Operational Impact: High impact on Ashish P Shah - all demat accounts and mutual fund folios are frozen, preventing any transactions until recovery proceedings are completed or further orders are issued.

Compliance Impact: Depositories and mutual fund registrars must ensure strict compliance with the attachment order to avoid regulatory consequences.

Impact Justification

High severity enforcement action involving attachment of demat accounts and mutual fund folios under recovery proceedings against an individual in connection with Svarnim Trade Udyog Limited matter