Description
SEBI confirms completion of recovery proceedings against Navneet Agarwal and Sons HUF (PAN: AAGHN4487C) under Recovery Certificate No. 8433 of 2024 dated December 10, 2024 in the matter of trading in illiquid stock options on BSE.
Summary
SEBI has announced the completion of recovery proceedings under Recovery Certificate No. 8433 of 2024 dated December 10, 2024 against Navneet Agarwal and Sons HUF (PAN: AAGHN4487C). The recovery action relates to violations concerning trading in illiquid stock options on the Bombay Stock Exchange (BSE).
Key Points
- Recovery Certificate No. 8433 of 2024 issued on December 10, 2024
- Defaulter: Navneet Agarwal and Sons HUF (PAN: AAGHN4487C)
- Matter relates to trading in illiquid stock options on BSE
- Recovery proceedings have been completed
- Enforcement action concluded
Regulatory Changes
No new regulatory changes introduced. This is a completion notice for existing enforcement proceedings.
Compliance Requirements
No new compliance requirements. This circular serves as a public notice of completed recovery proceedings against the defaulter entity.
Important Dates
- December 10, 2024: Recovery Certificate No. 8433 of 2024 issued
- January 9, 2026: Completion of recovery proceedings announced
Impact Assessment
Market Impact: Low - This is an entity-specific enforcement completion notice with no broader market implications.
Operational Impact: Low - No operational changes required for market participants. The notice serves as public disclosure of completed enforcement action against a specific defaulter.
Stakeholder Impact: The defaulter entity has completed the recovery proceedings. Other market participants are not directly affected.
Impact Justification
Entity-specific recovery completion notice with limited market-wide implications. High severity for the defaulter entity but low broader market impact.