Description
SEBI issues release order for Mr Rakesh Dhingra as defaulter in relation to recovery certificate proceedings for CIG Realty Fund Schemes I, II and IV.
Summary
SEBI has issued a release order concerning Mr Rakesh Dhingra (PAN: AAHPD6226A), who has been designated as a defaulter in connection with Recovery Certificate No. 8968 of 2025. This order pertains to proceedings related to CIG Realty Fund Scheme I, II and IV.
Key Points
- Defaulter: Mr Rakesh Dhingra (PAN: AAHPD6226A)
- Recovery Certificate No. 8968 of 2025
- Related to CIG Realty Fund Scheme I, II and IV
- Official release order issued by SEBI
Regulatory Changes
This is an enforcement action under SEBI’s recovery and defaulter designation framework. No new regulatory changes are introduced.
Compliance Requirements
- Entities and intermediaries must take note of the defaulter status of Mr Rakesh Dhingra
- Market participants should exercise due diligence when dealing with the designated defaulter
- Compliance with SEBI’s directions regarding the recovery certificate proceedings
Important Dates
- Recovery Certificate Date: December 12, 2025 (Certificate No. 8968 of 2025)
- Release Order Date: January 13, 2026
Impact Assessment
This release order has specific impact on:
- Investors in CIG Realty Fund Schemes I, II and IV
- The designated defaulter Mr Rakesh Dhingra
- Entities conducting business with the defaulter
The broader market impact is limited as this pertains to a specific individual and fund schemes. However, it demonstrates SEBI’s continued enforcement of recovery proceedings against defaulters.
Impact Justification
Release order for individual defaulter in specific fund schemes; significant for concerned parties but limited broader market impact