Description
SEBI cancels Recovery Certificate No. 8623 dated February 13, 2023 issued against Maya Agarwal (PAN: ACAPA9807B) in matter of trading in illiquid stock options on BSE.
Summary
SEBI has cancelled Recovery Certificate No. 8623 of 2025 dated February 13, 2023 that was issued against Maya Agarwal (PAN: ACAPA9807B) as a defaulter in the matter of trading in illiquid stock options on the Bombay Stock Exchange (BSE). The cancellation order resolves the outstanding recovery proceedings against this individual.
Key Points
- Recovery Certificate No. 8623 of 2025 dated February 13, 2023 has been cancelled
- The certificate was issued against Maya Agarwal (PAN: ACAPA9807B)
- Original matter related to trading violations in illiquid stock options on BSE
- Defaulter status against Maya Agarwal is being removed through this cancellation
- Order issued by SEBI in January 2026
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action cancellation order.
Compliance Requirements
No ongoing compliance requirements. The cancellation of the recovery certificate removes the enforcement action against the named individual. Any concerned parties should note the closure of this recovery proceeding.
Important Dates
- Original Recovery Certificate Date: February 13, 2023
- Recovery Certificate Number: 8623 of 2025
- Cancellation Order Date: January 8, 2026
Impact Assessment
Market Impact: Minimal. This is an individual enforcement case cancellation with no broader market implications.
Operational Impact: Limited to the specific individual (Maya Agarwal) who was previously designated as a defaulter. The cancellation removes restrictions or recovery proceedings that were in place.
Compliance Impact: Demonstrates SEBI’s ongoing enforcement and resolution of recovery proceedings. Market participants should maintain awareness of illiquid stock options trading regulations to avoid similar enforcement actions.
Impact Justification
Cancellation of recovery certificate against individual defaulter; limited market-wide impact; primarily affects specific enforcement case