Description

Recovery proceedings against Kamlesh Agrawal (PAN: AFUPA7917B) under Recovery Certificate No. 8103 of 2024 for trading in illiquid stock options at BSE.

Summary

SEBI has issued a remittance advice against Kamlesh Agrawal (PAN: AFUPA7917B) under Recovery Certificate No. 8103 of 2024. This enforcement action relates to violations concerning trading in illiquid stock options at the Bombay Stock Exchange (BSE). The individual has been designated as a defaulter, and recovery proceedings are underway to collect outstanding amounts.

Key Points

  • Enforcement action against individual defaulter Kamlesh Agrawal
  • PAN of defaulter: AFUPA7917B
  • Recovery Certificate No. 8103 of 2024 issued
  • Violation relates to trading in illiquid stock options at BSE
  • Remittance advice issued for recovery of dues

Regulatory Changes

No new regulatory changes introduced. This is an enforcement action under existing SEBI recovery regulations.

Compliance Requirements

  • The defaulter is required to remit the outstanding amounts as specified in the recovery certificate
  • Market participants should be aware of SEBI’s continued enforcement against manipulative trading practices in illiquid instruments
  • Relevant parties must comply with recovery proceedings

Important Dates

  • Circular Date: January 22, 2026
  • Recovery Certificate No: 8103 of 2024

Impact Assessment

This is an individual enforcement action with limited broader market impact. The action demonstrates SEBI’s ongoing vigilance against manipulative trading practices in illiquid stock options. While the severity of the violation is high for the individual concerned, the impact on the overall market is low as it pertains to a single defaulter. Market participants should note SEBI’s active enforcement in the derivatives segment, particularly concerning illiquid instruments where price manipulation is more feasible.

Impact Justification

Individual enforcement action against a defaulter with limited broader market impact. Important for compliance tracking but affects only the specific entity under recovery proceedings.