Description
SEBI announces completion of recovery proceedings under Recovery Certificate No. 8601 of 2025 dated February 04, 2025 against Sumac International Limited (PAN: AABCS8193A) in the matter of illiquid stock options at BSE.
Summary
SEBI has completed recovery proceedings under Recovery Certificate No. 8601 of 2025 dated February 04, 2025 issued against Sumac International Limited (PAN: AABCS8193A) in connection with illiquid stock options at the Bombay Stock Exchange (BSE). This notice marks the administrative closure of the recovery action initiated against the defaulter.
Key Points
- Recovery Certificate No. 8601 of 2025 dated February 04, 2025 has been completed
- Defaulter entity: Sumac International Limited (PAN: AABCS8193A)
- Matter relates to illiquid stock options traded at BSE
- Recovery proceedings have been concluded by SEBI
- Notice serves as formal completion announcement of enforcement action
Regulatory Changes
No regulatory changes introduced. This is a completion notice for existing recovery proceedings.
Compliance Requirements
No new compliance requirements. The recovery proceedings against Sumac International Limited have been concluded.
Important Dates
- February 04, 2025: Original date of Recovery Certificate No. 8601 of 2025
- December 30, 2025: Completion notice published
Impact Assessment
This completion notice has minimal market impact as it pertains to closure of recovery proceedings against a single defaulter entity. The matter involved illiquid stock options at BSE, indicating limited trading activity and market participation. The completion of recovery proceedings demonstrates SEBI’s continued enforcement of regulatory compliance and debt recovery mechanisms. No direct impact on active market participants or trading operations.
Impact Justification
Completion notice for recovery proceedings against a single defaulter entity with limited market-wide impact; administrative closure of enforcement action