Description

SEBI issues notice of attachment of demat account for recovery proceedings against Mr. Sanjay Jethalal Soni, Ms. Krupa Sanjay Soni and M/s. J M Soni Consultancy in the matter of Oregon Commercial Limited (now Saianand Commercial Limited).

Summary

SEBI has issued a Notice of Attachment of Demat Account in recovery proceedings under Recovery Certificate No. 4286 of 2021. The notice targets Mr. Sanjay Jethalal Soni, Ms. Krupa Sanjay Soni, and M/s. J M Soni Consultancy in connection with the matter of Oregon Commercial Limited (subsequently renamed as Saianand Commercial Limited). This represents enforcement action to recover dues through attachment of securities held in demat accounts.

Key Points

  • Recovery Certificate No. 4286 of 2021 is being enforced
  • Three entities subject to demat account attachment: Mr. Sanjay Jethalal Soni, Ms. Krupa Sanjay Soni, and M/s. J M Soni Consultancy
  • Related to Oregon Commercial Limited (now known as Saianand Commercial Limited)
  • Compliance order for attachment of demat accounts as recovery mechanism
  • Part of SEBI’s enforcement and recovery proceedings

Regulatory Changes

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

Compliance Requirements

  • Depositories and depository participants must comply with the attachment notice
  • Named entities’ demat accounts will be attached until recovery is completed
  • Securities in attached accounts cannot be transferred or dealt with until recovery proceedings conclude
  • Entities subject to the order must comply with recovery demands

Important Dates

  • Recovery Certificate Date: 2021 (RC No. 4286/2021)
  • Notice Issue Date: December 24, 2025

Impact Assessment

Direct Impact: High impact on the three named entities (Mr. Sanjay Jethalal Soni, Ms. Krupa Sanjay Soni, and M/s. J M Soni Consultancy) whose demat accounts are being attached, restricting their ability to deal with securities until recovery is completed.

Market Impact: Limited broader market impact. This is an entity-specific enforcement action related to Oregon Commercial Limited/Saianand Commercial Limited.

Enforcement Significance: Demonstrates SEBI’s continued use of recovery mechanisms including demat account attachment to enforce regulatory orders and recover dues from violators.

Investor Alert: Investors should note the enforcement action against these entities and the company involved, indicating potential past regulatory violations.

Impact Justification

Recovery enforcement action involving attachment of demat accounts indicates serious regulatory violations with direct financial impact on named individuals and entity