Description

SEBI remittance advice issued against Shashank Tekriwal (PAN: ADGPT9294C) in the matter of trading in illiquid stock options on BSE under Recovery Certificate No. 7052 of 2023.

Summary

SEBI has issued a remittance advice against Shashank Tekriwal (PAN: ADGPT9294C) in connection with trading in illiquid stock options on the Bombay Stock Exchange (BSE). This action is taken under Recovery Certificate No. 7052 of 2023, indicating ongoing enforcement and recovery proceedings against the defaulter.

Key Points

  • Defaulter: Shashank Tekriwal (PAN: ADGPT9294C)
  • Matter: Trading in Illiquid Stock Options on BSE
  • Recovery Certificate No.: 7052 of 2023
  • Document Type: Remittance Advice
  • Action Type: Enforcement and recovery proceedings

Regulatory Changes

No new regulatory changes. This is an enforcement action under existing SEBI regulations governing trading practices and market manipulation.

Compliance Requirements

This remittance advice pertains to recovery proceedings against the named defaulter. Market participants should:

  • Avoid engaging in manipulative trading practices involving illiquid stock options
  • Ensure compliance with SEBI regulations on options trading
  • Be aware that SEBI actively pursues recovery from defaulters involved in market violations

Important Dates

  • Remittance Advice Date: January 21, 2026
  • Recovery Certificate: No. 7052 of 2023

Impact Assessment

Individual Impact: High - Direct enforcement action against the defaulter with financial recovery implications.

Market Impact: Low - This is an individual enforcement case with no broader market implications. However, it demonstrates SEBI’s continued vigilance in detecting and acting against manipulative trading in illiquid stock options, which serves as a deterrent for similar violations.

Impact Justification

Enforcement action against an individual defaulter for trading violations in illiquid stock options. High severity for the individual involved but low market-wide impact. Medium importance as it reflects SEBI's ongoing enforcement activities in curbing manipulative trading practices.