Description
SEBI remittance advice for recovery of dues from Mr. Rajat Mishra (PAN: GUUPM8688E) in the matter of insider trading in Hindustan Aeronautics Limited scrip under Recovery Certificate No. 7938 of 2024.
Summary
SEBI has issued a remittance advice regarding recovery proceedings against Mr. Rajat Mishra (PAN: GUUPM8688E), a defaulter in the matter of insider trading in the scrip of Hindustan Aeronautics Limited (HAL). This document pertains to Recovery Certificate No. 7938 of 2024 and provides details of the recovery process being undertaken by SEBI to collect outstanding dues from the defaulter.
Key Points
- Defaulter: Mr. Rajat Mishra
- PAN: GUUPM8688E
- Violation: Insider trading in Hindustan Aeronautics Limited (HAL) scrip
- Recovery Certificate No.: 7938 of 2024
- Document Type: Remittance Advice
- Action: Recovery proceedings initiated for outstanding dues
Regulatory Changes
No new regulatory changes. This is an enforcement action following existing insider trading regulations and recovery procedures under SEBI Act.
Compliance Requirements
- The defaulter is required to remit the outstanding amount as per the recovery certificate
- Non-compliance may lead to further enforcement actions including attachment of assets, bank accounts, and other recovery measures as per SEBI’s recovery procedures
- Market participants should note SEBI’s continued vigilance against insider trading violations
Important Dates
- Document Date: December 26, 2025
- Recovery Certificate No. 7938 of 2024 (issuance date not specified in metadata)
Impact Assessment
Market Impact: Low - This is an enforcement action against an individual defaulter and does not affect market operations or trading in HAL scrip.
Compliance Impact: Medium - Serves as a reminder of SEBI’s enforcement capabilities and the consequences of insider trading violations. Demonstrates SEBI’s commitment to recovering penalties and disgorgement amounts from violators.
Investor Impact: Minimal direct impact on investors. However, it reinforces investor confidence in SEBI’s ability to take action against market manipulation and insider trading.
Impact Justification
Enforcement action against individual defaulter in insider trading case. High severity due to insider trading violation but low market impact as it affects only the defaulter. Medium importance for compliance awareness.