Description
SEBI issues notice of attachment of bank accounts against Ashish P Shah in connection with recovery proceedings under RC 8939 of 2025 related to Svarnim Trade Udyog Limited.
Summary
SEBI has issued a notice of attachment of bank accounts dated December 12, 2025, under Recovery Certificate No. 8939 of 2025 against Ashish P Shah (PAN: AJRPS7737C) in connection with Svarnim Trade Udyog Limited. This enforcement action is part of SEBI’s recovery proceedings to secure outstanding dues.
Key Points
- Notice issued under Recovery Certificate No. 8939 of 2025
- Action taken against Ashish P Shah (PAN: AJRPS7737C)
- Related to the matter of Svarnim Trade Udyog Limited
- Bank accounts have been attached as part of recovery proceedings
- Notice dated December 12, 2025
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing SEBI recovery framework.
Compliance Requirements
- Banks are required to comply with the attachment order and freeze specified accounts
- Ashish P Shah is prohibited from operating the attached bank accounts
- The attached accounts cannot be used for transactions until the recovery proceedings are resolved
Important Dates
- Notice Date: December 12, 2025
- Recovery Certificate No.: RC 8939 of 2025
Impact Assessment
Individual Impact: High - Bank account attachment severely restricts the financial operations and liquidity access of Ashish P Shah.
Entity Impact: High - This action against a person associated with Svarnim Trade Udyog Limited may impact the company’s operations and reputation.
Market Impact: Medium - Signals SEBI’s continued enforcement actions against non-compliant entities and individuals in securities market violations.
Impact Justification
Bank account attachment represents serious enforcement action with immediate financial impact on the individual and related entity