Description
SEBI releases recovery order against Surya Prakash Kaloya (PAN: ATIPK3630R) in connection with Recovery Certificate No. RC 8149 of 2024 related to illiquid stock options matter.
Summary
SEBI has issued a Release Order in Recovery Certificate No. RC 8149 of 2024 against Surya Prakash Kaloya (PAN: ATIPK3630R). This order is related to recovery proceedings in the matter of illiquid stock options. The release order indicates either completion of recovery, settlement, or other resolution of the outstanding dues in this enforcement case.
Key Points
- Recovery Certificate No. RC 8149 of 2024 pertains to Surya Prakash Kaloya
- PAN of the individual: ATIPK3630R
- Matter relates to illiquid stock options
- Release order issued on December 26, 2025
- Order marks resolution or significant development in recovery proceedings
Regulatory Changes
No new regulatory changes introduced. This is an enforcement/recovery action related to existing regulations on illiquid stock options and market manipulation.
Compliance Requirements
This release order does not impose new compliance requirements on market participants. It represents the conclusion or modification of recovery proceedings against the named individual.
Important Dates
- December 26, 2025: Release Order issued
- Recovery Certificate originally dated: 2024 (specific date in RC 8149 of 2024)
Impact Assessment
Market Impact: Low - This is an individual enforcement case with no broader market implications.
Regulatory Impact: The release order indicates SEBI’s continued focus on recovery of dues from individuals involved in illiquid stock manipulation schemes. It demonstrates the conclusion of recovery proceedings in this specific case.
Individual Impact: High - For Surya Prakash Kaloya, this release order represents a significant development in the recovery proceedings against them, potentially indicating payment of dues, settlement, or other resolution mechanism.
Impact Justification
Release order in recovery proceedings indicates closure or significant development in enforcement action. High severity for individual involved but low market impact as it pertains to specific recovery case.