Description
SEBI issues Recovery Certificate RC8989/2025 for notice of demand against Nightangle Marcom Pvt Ltd (now amalgamated with Smile Suppliers Private Ltd, PAN: AAMCS2306N) in connection with the Thirani Projects Ltd case.
Summary
SEBI has issued Recovery Certificate No. RC8989 of 2025 containing a Notice of Demand against Nightangle Marcom Pvt Ltd, which has been amalgamated with Smile Suppliers Private Ltd (PAN: AAMCS2306N). This enforcement action is related to the matter of Thirani Projects Ltd and represents SEBI’s efforts to recover dues from entities involved in regulatory violations.
Key Points
- Recovery Certificate Number: RC8989 of 2025
- Entity: Nightangle Marcom Pvt Ltd (now amalgamated with Smile Suppliers Private Ltd)
- PAN of Successor Entity: AAMCS2306N
- Related Matter: Thirani Projects Ltd
- Document Type: Notice of Demand under recovery proceedings
- Enforcement action initiated through recovery certificate mechanism
Regulatory Changes
No new regulatory framework changes. This is an enforcement action under existing SEBI recovery and enforcement provisions.
Compliance Requirements
- Smile Suppliers Private Ltd (as successor entity post-amalgamation) is required to comply with the Notice of Demand
- The entity must respond to SEBI’s recovery proceedings
- Failure to comply may result in further enforcement action including attachment of assets or other recovery measures under SEBI Act
- The demand amount and payment timeline would be specified in the detailed certificate
Important Dates
- Certificate Issue Date: December 31, 2025
- Specific payment deadlines and compliance dates would be detailed in the full recovery certificate document
Impact Assessment
For Smile Suppliers Private Ltd: High impact as the successor entity bears the liabilities of Nightangle Marcom Pvt Ltd post-amalgamation. The company faces financial obligations and potential enforcement action.
For Thirani Projects Ltd: This recovery action is part of the broader enforcement case involving Thirani Projects Ltd, indicating ongoing regulatory scrutiny.
Market Impact: Highlights SEBI’s continued enforcement efforts and ability to pursue liabilities even through corporate restructuring like amalgamations, reinforcing regulatory accountability.
Impact Justification
Recovery certificate indicates enforcement action against an entity amalgamated with another company in relation to Thirani Projects Ltd case, signaling serious regulatory compliance issues and potential financial liabilities.