Description
SEBI completes recovery proceedings against defaulter Mahesh Chand Mittal (PAN: ABJPM0503C) under Recovery Certificate No. 8871 of 2025 dated August 21, 2025 in the matter of GDR issues of Sybly Industries Limited.
Summary
SEBI has completed recovery proceedings under Recovery Certificate No. 8871 of 2025 dated August 21, 2025, against Mahesh Chand Mittal (PAN: ABJPM0503C) in connection with GDR issues of Sybly Industries Limited. This notice confirms the successful conclusion of enforcement and debt recovery actions.
Key Points
- Recovery Certificate No. 8871 of 2025 has been completed
- Defaulter: Mahesh Chand Mittal (PAN: ABJPM0503C)
- Matter relates to GDR (Global Depositary Receipt) issues of Sybly Industries Limited
- Recovery certificate was originally issued on August 21, 2025
- Proceedings have now been successfully concluded
Regulatory Changes
No new regulatory changes introduced. This is a completion notice for existing recovery proceedings.
Compliance Requirements
No new compliance requirements. This notice documents the completion of recovery actions against the named defaulter.
Important Dates
- August 21, 2025: Original issuance date of Recovery Certificate No. 8871 of 2025
- January 14, 2026: Completion notice issued
Impact Assessment
This completion notice has medium impact, primarily affecting:
- Market Participants: Demonstrates SEBI’s enforcement capabilities in recovery proceedings
- Sybly Industries Limited: Resolution of GDR-related default matter
- Investors: Provides transparency on enforcement outcomes in securities violations
- Regulatory Compliance: Sets precedent for debt recovery in GDR-related matters
The completion of recovery proceedings indicates successful enforcement action and serves as a deterrent for future violations related to GDR issues.
Impact Justification
Completion of recovery proceedings indicates successful enforcement action against a defaulter in GDR matters. Medium impact as it affects a specific entity and represents closure of recovery proceedings rather than new market-wide regulation.