Description
SEBI issues Recovery Certificate RC8990 of 2025 for outstanding dues against Priyanka Trexim and Commerce Pvt Ltd (now amalgamated with Sutlej Sales Private Ltd, PAN: AADCS9410Q) in the matter of Thirani Projects Ltd.
Summary
SEBI has issued Recovery Certificate No. RC8990 of 2025 as a Notice of Demand against Priyanka Trexim and Commerce Pvt Ltd, which has been amalgamated with Sutlej Sales Private Ltd (PAN: AADCS9410Q). This certificate pertains to recovery proceedings in the matter of Thirani Projects Ltd.
Key Points
- Recovery Certificate Number: RC8990 of 2025
- Entity: Priyanka Trexim and Commerce Pvt Ltd (now amalgamated with Sutlej Sales Private Ltd)
- PAN of Successor Entity: AADCS9410Q
- Related Matter: Thirani Projects Ltd
- Action Type: Notice of Demand for recovery of outstanding dues
- Legal Status: Formal recovery certificate issued under SEBI enforcement provisions
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing SEBI recovery provisions.
Compliance Requirements
- Sutlej Sales Private Ltd (as successor entity to Priyanka Trexim and Commerce Pvt Ltd) must comply with the demand notice
- Payment of outstanding dues as specified in the recovery certificate
- Cooperation with SEBI’s recovery proceedings
- Failure to comply may result in further enforcement actions including asset attachment and recovery through designated authorities
Important Dates
- Certificate Issue Date: December 31, 2025
- Compliance deadline and specific payment terms would be detailed in the certificate document
Impact Assessment
Financial Impact: High - Recovery certificate indicates significant outstanding dues owed to SEBI or affected parties in the Thirani Projects Ltd matter.
Legal Impact: High - Formal recovery proceedings initiated. Non-compliance can lead to coercive recovery measures including attachment of assets, bank accounts, and other properties.
Corporate Impact: The amalgamation of Priyanka Trexim and Commerce Pvt Ltd with Sutlej Sales Private Ltd means the successor entity inherits the liabilities and obligations under this recovery certificate.
Market Impact: Enforcement action demonstrates SEBI’s continued focus on recovery of dues in cases involving market violations and investor protection matters related to listed entities like Thirani Projects Ltd.
Impact Justification
Recovery certificate indicates enforcement action for outstanding dues. High severity due to legal proceedings and demand recovery against entities involved in violations related to Thirani Projects Ltd.