Description
SEBI issues recovery certificate 8968/2025 to Mr Rakesh Dhingra (PAN: AAHPD6226A) as defaulter in the inspection matter of CIG Realty Fund Scheme I, II and IV.
Summary
SEBI has issued Recovery Certificate number 8968 of 2025 dated December 12, 2025, to Mr Rakesh Dhingra (PAN: AAHPD6226A) as a defaulter in connection with the inspection of CIG Realty Fund Scheme I, II and IV. This notice of demand represents a formal enforcement action for recovery of outstanding amounts.
Key Points
- Recovery Certificate Number: 8968 of 2025
- Date of issuance: December 12, 2025
- Defaulter: Mr Rakesh Dhingra
- PAN: AAHPD6226A
- Matter: Inspection of CIG Realty Fund Scheme I, II and IV
- Type: Notice of Demand under recovery proceedings
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing SEBI recovery procedures.
Compliance Requirements
- Mr Rakesh Dhingra is required to clear the outstanding demand as specified in the recovery certificate
- Non-compliance may lead to further recovery proceedings including attachment of assets
- The defaulter should respond to SEBI’s demand notice within the stipulated timeframe
Important Dates
- Recovery Certificate Issue Date: December 12, 2025
- Payment deadline and amount details are specified in the full recovery certificate document
Impact Assessment
Market Impact: Low - This is an individual enforcement action and does not affect broader market operations.
Entity Impact: High - Significant impact on Mr Rakesh Dhingra as the named defaulter, with potential financial liabilities and regulatory consequences. Recovery proceedings may include coercive measures for fund recovery.
Compliance Impact: This notice reinforces SEBI’s commitment to enforcement actions against non-compliant entities and individuals involved in fund management irregularities. It serves as a deterrent for similar violations in alternative investment funds.
Impact Justification
Recovery certificate indicates serious enforcement action against a defaulter with monetary demand in a fund inspection matter, signaling regulatory non-compliance with potential financial consequences