Description
SEBI recovery certificate and notice of demand issued against Pugalia Vyapaar Pvt Ltd (now amalgamated with Plenty Niryat Pvt Ltd) in the matter of Thirani Projects Ltd.
Summary
SEBI has issued Recovery Certificate No. RC8992 of 2025 along with a Notice of Demand against Pugalia Vyapaar Pvt Ltd (PAN: AABCP6776C), which has now been amalgamated with Plenty Niryat Pvt Ltd, in connection with the matter of Thirani Projects Ltd. This represents enforcement action for recovery of outstanding dues.
Key Points
- Recovery Certificate Number: RC8992 of 2025
- Entity: Pugalia Vyapaar Pvt Ltd (now amalgamated with Plenty Niryat Pvt Ltd)
- PAN: AABCP6776C
- Related Matter: Thirani Projects Ltd
- Action Type: Notice of Demand for recovery
Regulatory Changes
This is an enforcement action rather than a regulatory change. SEBI is exercising its recovery powers under the SEBI Act to collect outstanding dues from the entity.
Compliance Requirements
Pugalia Vyapaar Pvt Ltd (now amalgamated with Plenty Niryat Pvt Ltd) is required to:
- Comply with the demand notice issued by SEBI
- Pay the outstanding amounts as specified in the recovery certificate
- Respond to SEBI’s enforcement action within stipulated timelines
Important Dates
- Certificate Issue Date: December 31, 2025
- Document Publication: January 2026
Impact Assessment
This recovery certificate indicates serious enforcement action by SEBI against entities involved in the Thirani Projects Ltd matter. The amalgamation of Pugalia Vyapaar Pvt Ltd with Plenty Niryat Pvt Ltd means the successor entity is liable for the outstanding dues. This action demonstrates SEBI’s continued efforts to recover dues from entities that have violated securities regulations, and may impact the credibility and operations of the amalgamated entity Plenty Niryat Pvt Ltd.
Impact Justification
Recovery certificate issued by SEBI for enforcement of dues, indicating serious regulatory action against entities involved in Thirani Projects Ltd matter