Description

SEBI issues Notice of Demand to Mr Mahesh Kumar Sharma (PAN: AYYPS1602E) under Recovery Certificate No. 8969 of 2025 in the matter of Inspection of CIG Realty Fund Scheme I, II and IV.

Summary

SEBI has issued a Notice of Demand under Recovery Certificate Number 8969 of 2025 dated December 12, 2025, to Mr Mahesh Kumar Sharma (PAN: AYYPS1602E) as a defaulter in the matter of Inspection of CIG Realty Fund Scheme I, II and IV. This notice represents enforcement action for recovery of dues arising from regulatory violations.

Key Points

  • Recovery Certificate Number: 8969 of 2025
  • Date of Issue: December 12, 2025
  • Defaulter: Mr Mahesh Kumar Sharma
  • PAN: AYYPS1602E
  • Matter: Inspection of CIG Realty Fund Scheme I, II and IV
  • Status: Formal recovery proceedings initiated

Regulatory Changes

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

Compliance Requirements

  • The defaulter is required to pay the demanded amount as specified in the recovery certificate
  • Non-compliance may lead to further enforcement actions including attachment of assets and bank accounts
  • The recovery certificate empowers SEBI to initiate recovery proceedings through designated authorities

Important Dates

  • December 12, 2025: Date of Recovery Certificate issuance
  • Payment deadline and further timeline details are specified in the full notice document

Impact Assessment

Direct Impact:

  • Mr Mahesh Kumar Sharma faces legal and financial consequences with potential asset attachment
  • Recovery proceedings may include bank account freezing and property seizure

Market Impact:

  • Demonstrates SEBI’s active enforcement against violations in alternative investment funds
  • Signals regulatory scrutiny on fund management and scheme operations
  • Reinforces compliance expectations for fund managers and associated persons

Investor Protection:

  • Reflects SEBI’s commitment to protecting investor interests in collective investment schemes
  • Strengthens deterrent effect against fund-related violations

Industry Implications:

  • Fund managers and scheme operators should ensure strict compliance with inspection requirements
  • Highlights importance of maintaining proper records and cooperation with SEBI inspections

Impact Justification

High severity enforcement action involving recovery certificate issuance against a defaulter for non-compliance in a fund inspection matter, indicating serious regulatory violations.