Description

Completion notice for Recovery Certificate No. 6110 of 2022 after full payment of Rs. 29,92,431.41 by Madhu Chanda, Anandilal Chanda and Anandilal Chanda HUF for penalties imposed in front-running case.

Summary

SEBI’s Recovery Officer issued a completion notice on January 28, 2026, for Recovery Certificate No. 6110 of 2022 against Madhu Chanda (PAN: ADGPC2308E), Anandilal Chanda (PAN: AACPC9029K), and Anandilal Chanda HUF (PAN: AACHC8681B). The recovery proceedings have been completed following full payment of Rs. 29,92,431.41, which includes the original penalty of Rs. 26,76,000 plus interest and costs. The penalties were imposed by the Adjudicating Officer vide Order No. Order/SBM/VS/2022-23/16850-16852 dated June 31, 2022 in the matter of Front Running by Manish Chaturvedi & Others.

Key Points

  • Recovery Certificate No. 6110 of 2022 was issued on December 13, 2022 for Rs. 26,76,000
  • Total amount recovered: Rs. 29,92,431.41 (includes interest and costs)
  • Three entities involved: Madhu Chanda, Anandilal Chanda, and Anandilal Chanda HUF
  • Original penalties imposed for front-running violations in June 2022
  • Recovery proceedings completed on January 28, 2026
  • Action taken under Section 28A of SEBI Act, 1992 read with Income-tax Act, 1961

Regulatory Changes

No new regulatory changes introduced. This is a completion notice for an existing enforcement matter.

Compliance Requirements

No ongoing compliance requirements. The notice confirms that all outstanding dues have been fully paid and recovery proceedings are concluded.

Important Dates

  • December 13, 2022: Recovery Certificate No. 6110 of 2022 issued
  • June 31, 2022: Original adjudication order imposing penalties (Order No. Order/SBM/VS/2022-23/16850-16852)
  • January 28, 2026: Completion notice issued after full payment received

Impact Assessment

This is an administrative notice confirming the completion of recovery proceedings with no market-wide or regulatory impact. It represents the conclusion of an enforcement action against specific individuals and entities involved in the front-running case related to Manish Chaturvedi & Others. The notice serves as official documentation that all penalty amounts, interest, and costs have been fully recovered and the matter is closed.

Impact Justification

Administrative completion notice confirming full payment of penalties in a concluded enforcement matter. No market-wide impact or new regulatory requirements.