Description

SEBI issues attachment notices 15062 & 15063 of 2025 against defaulter Dharmvir Singh (PAN: DSVPS1071K) under Recovery Certificate No. 8619 of 2025 for illiquid stock options violations at BSE.

Summary

SEBI has issued Notices of Attachment of Bank Accounts and Demat Accounts numbered 15062 and 15063 of 2025, dated December 15, 2025, against Dharmvir Singh (PAN: DSVPS1071K), who has been identified as a defaulter. This enforcement action is taken under Recovery Certificate No. 8619 of 2025 in connection with violations related to illiquid stock options at the Bombay Stock Exchange (BSE).

Key Points

  • Notices of Attachment issued: 15062 & 15063 of 2025
  • Date of notices: December 15, 2025
  • Defaulter: Dharmvir Singh
  • PAN of defaulter: DSVPS1071K
  • Recovery Certificate No.: 8619 of 2025
  • Matter relates to: Illiquid Stock Options at BSE
  • Action taken: Attachment of bank accounts and demat accounts

Regulatory Changes

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

Compliance Requirements

  • Banks and depository participants must comply with the attachment notices and freeze the specified accounts of Dharmvir Singh
  • The defaulter is prohibited from operating the attached bank accounts and demat accounts until recovery is complete or the attachment is lifted
  • Financial institutions must cooperate with SEBI’s recovery proceedings

Important Dates

  • December 15, 2025: Date of issuance of attachment notices 15062 & 15063
  • Attachment effective immediately upon receipt by banks and depositories

Impact Assessment

Market Impact: Minimal. This is an individual enforcement action with no broader market implications.

Regulatory Impact: Demonstrates SEBI’s continued commitment to enforcing compliance and recovering dues from defaulters involved in illiquid stock options violations.

Investor Impact: Limited to the individual defaulter. Reinforces investor protection measures through active recovery proceedings against violators.

Operational Impact: Banks and depository participants holding accounts of Dharmvir Singh must process and implement the attachment orders promptly.

Impact Justification

High severity enforcement action against an individual defaulter with limited market-wide impact. Attachment of bank and demat accounts indicates serious compliance violations but affects only one entity.