Description

SEBI issues notice of demand under Recovery Certificate number 8976 of 2025 to RAVI BHATIA AND SONS HUF (PAN: AARHR3976F) in the matter of ISO at BSE.

Summary

SEBI has issued a Notice of Demand under Recovery Certificate number 8976 of 2025 dated December 19, 2025 to RAVI BHATIA AND SONS HUF (PAN: AARHR3976F) in connection with violations related to Initial Public Offering (ISO) at Bombay Stock Exchange (BSE).

Key Points

  • Recovery Certificate Number: 8976 of 2025
  • Date of Notice: December 19, 2025
  • Entity: RAVI BHATIA AND SONS HUF
  • PAN: AARHR3976F
  • Matter: ISO at BSE violations
  • Action: Notice of Demand issued for recovery of dues

Regulatory Changes

This notice represents enforcement action under SEBI’s recovery proceedings framework. Recovery certificates are issued when entities fail to comply with payment obligations arising from SEBI orders, adjudication proceedings, or settlement amounts.

Compliance Requirements

  • RAVI BHATIA AND SONS HUF must comply with the demand notice
  • Payment of demanded amount as per the recovery certificate
  • Failure to comply may result in further recovery actions including attachment of assets
  • The entity must respond within the timeline specified in the notice

Important Dates

  • Notice Date: December 19, 2025
  • Recovery Certificate Date: December 19, 2025
  • Payment deadlines will be specified in the detailed notice

Impact Assessment

For RAVI BHATIA AND SONS HUF

  • High impact - Enforcement action with potential financial and legal consequences
  • Non-compliance may lead to asset attachment and further penalties
  • May affect ability to participate in securities market

For Market

  • Limited direct market impact
  • Demonstrates SEBI’s continued enforcement against ISO violations
  • Part of broader regulatory framework to ensure market integrity

Precedent Value

  • Reinforces consequences for non-compliance with SEBI orders
  • Highlights recovery mechanism for unpaid dues to SEBI

Impact Justification

Recovery certificate indicates enforcement action against specific entity for ISO violations at BSE. High impact for the concerned party but limited market-wide significance.