Description

SEBI issues notices 15060 & 15061 of 2025 for attachment of bank and demat accounts of Sumac International Limited (PAN: AABCS8193A) under Recovery Certificate No. 8601 of 2025 in the matter of Illiquid Stock Options at BSE.

Summary

SEBI has issued Notice of Attachment of Bank Accounts and Demat Accounts (Notices 15060 & 15061 of 2025) dated December 15, 2025 against Sumac International Limited (PAN: AABCS8193A) under Recovery Certificate No. 8601 of 2025. This enforcement action is in connection with the matter of Illiquid Stock Options at BSE. The attachment orders are part of SEBI’s recovery proceedings to enforce compliance and recover dues from the defaulter entity.

Key Points

  • Entity: Sumac International Limited (PAN: AABCS8193A)
  • Action: Attachment of Bank Accounts and Demat Accounts
  • Notice Numbers: 15060 & 15061 of 2025
  • Recovery Certificate: No. 8601 of 2025
  • Date of Notice: December 15, 2025
  • Matter: Illiquid Stock Options at BSE
  • Status: Defaulter

Regulatory Changes

No new regulatory changes introduced. This is an enforcement action under existing SEBI recovery and attachment provisions.

Compliance Requirements

  • Banks and depositories must comply with the attachment orders and freeze the specified accounts of Sumac International Limited
  • The defaulter entity is prohibited from operating the attached bank and demat accounts
  • Third parties dealing with Sumac International Limited should note the enforcement action and attachment status

Important Dates

  • Notice Date: December 15, 2025
  • Recovery Certificate Issuance: 2025 (RC No. 8601)

Impact Assessment

Market Impact: Limited direct market impact as this is an entity-specific enforcement action. However, it demonstrates SEBI’s continued vigilance in illiquid stock option matters.

Operational Impact:

  • Sumac International Limited’s banking and securities operations are significantly restricted due to account attachments
  • The company cannot conduct financial transactions through the attached accounts
  • Recovery proceedings will continue until dues are settled

Investor Impact: Investors and counterparties dealing with Sumac International Limited should exercise caution given the defaulter status and ongoing enforcement proceedings.

Impact Justification

High severity enforcement action involving account attachment for recovery proceedings against a defaulter entity in illiquid stock options matter