Description
SEBI announces completion of recovery proceedings under Recovery Certificate No. 8394 of 2024 dated November 28, 2024 against Carona Infra Projects Private Limited (now known as Alright Merchantile Private Limited) in the matter of ISO at BSE.
Summary
SEBI has completed recovery proceedings under Recovery Certificate No. 8394 of 2024 dated November 28, 2024 issued against Carona Infra Projects Private Limited (now known as Alright Merchantile Private Limited) with PAN: AADCC4915E. The recovery was in relation to matters concerning Initial Public Offering (ISO) at Bombay Stock Exchange (BSE).
Key Points
- Recovery Certificate No. 8394 of 2024 dated November 28, 2024
- Entity: Carona Infra Projects Private Limited (now renamed as Alright Merchantile Private Limited)
- PAN: AADCC4915E
- Matter relates to ISO (Initial Public Offering) at BSE
- Recovery proceedings have been completed
Regulatory Changes
No new regulatory changes introduced. This is a completion notice for existing recovery proceedings.
Compliance Requirements
No ongoing compliance requirements as the recovery certificate proceedings have been completed. The subject entity has satisfied the recovery obligations under the certificate.
Important Dates
- November 28, 2024: Date of Recovery Certificate No. 8394 of 2024
- December 23, 2025: Completion notice published
Impact Assessment
This completion notice has minimal market impact as it pertains to concluded enforcement and recovery action against a specific private limited company. The completion of recovery indicates that the dues have been recovered from the entity in relation to ISO matters at BSE. This is primarily an administrative update with no broader regulatory implications for market participants.
Impact Justification
Administrative completion notice for recovery proceedings against a single entity. Limited market-wide impact as it pertains to concluded enforcement action.