Description
SEBI issues recovery certificate and notice of demand against Silvertoss Trexim Pvt Ltd (amalgamated with Moreplus Merchants Pvt Ltd) for outstanding dues in the Thirani Projects Ltd case.
Summary
SEBI has issued Recovery Certificate No. RC8991 of 2025 along with a Notice of Demand against Silvertoss Trexim Pvt Ltd (PAN: AAFCM6761L), which has now been amalgamated with Moreplus Merchants Pvt Ltd. This action is in connection with the matter of Thirani Projects Ltd and represents enforcement proceedings for recovery of outstanding dues.
Key Points
- Certificate Number: RC8991 of 2025
- Entity: Silvertoss Trexim Pvt Ltd (now amalgamated with Moreplus Merchants Pvt Ltd)
- PAN: AAFCM6761L
- Related Matter: Thirani Projects Ltd
- Action Type: Recovery Certificate and Notice of Demand
- Status: Entity has undergone amalgamation with Moreplus Merchants Pvt Ltd
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing SEBI recovery provisions.
Compliance Requirements
- The entity (now amalgamated as Moreplus Merchants Pvt Ltd) must comply with the demand notice
- Payment of outstanding dues as specified in the recovery certificate
- Cooperation with SEBI’s recovery proceedings
- The successor entity (Moreplus Merchants Pvt Ltd) assumes liabilities of Silvertoss Trexim Pvt Ltd
Important Dates
- Certificate Issue Date: December 31, 2025
- Payment deadline and other specific dates would be mentioned in the detailed certificate
Impact Assessment
High Impact on Entity: The issuance of a recovery certificate indicates serious enforcement action against the entity. The amalgamation with Moreplus Merchants Pvt Ltd means the successor entity now bears the liability for outstanding dues.
Market Impact: Limited direct market impact, but signals SEBI’s continued enforcement efforts in the Thirani Projects Ltd matter. Other entities involved in similar matters should take note of active recovery proceedings.
Legal Implications: Recovery certificate empowers SEBI to pursue various recovery mechanisms including attachment of assets, bank account freezing, and other legal remedies available under the SEBI Act and Recovery of Debts Act.
Impact Justification
Recovery certificate issued against entity in enforcement matter involving Thirani Projects Ltd, indicating serious compliance breach and ongoing recovery proceedings