Description
SEBI announces completion of recovery proceedings against Rajiv Verma (PAN: ADIPV7096C) under Recovery Certificate No. 8101/2024 for dealings in illiquid stock options at BSE.
Summary
SEBI has completed recovery proceedings under Recovery Certificate No. 8101 of 2024 dated September 30, 2024 against Rajiv Verma (PAN: ADIPV7096C) for violations related to dealings in illiquid stock options at BSE. This notice confirms the completion of recovery action against the defaulter.
Key Points
- Recovery Certificate No. 8101 of 2024 dated September 30, 2024
- Defaulter: Rajiv Verma
- PAN: ADIPV7096C
- Violation relates to dealings in illiquid stock options at BSE
- Recovery proceedings have been completed
Regulatory Changes
No new regulatory changes introduced. This is an enforcement completion notice.
Compliance Requirements
This notice serves as a record of completed enforcement action. No new compliance requirements are introduced for market participants.
Important Dates
- September 30, 2024: Date of Recovery Certificate issuance
- January 29, 2026: Completion notice date
Impact Assessment
The impact is limited to the specific defaulter, Rajiv Verma. This completion notice has minimal market-wide impact and serves primarily as a record of SEBI’s successful recovery action in the matter of illiquid stock options trading violations at BSE. Market participants are not required to take any specific action in response to this notice.
Impact Justification
This is a recovery completion notice for an individual defaulter in illiquid stock options trading. It represents the conclusion of enforcement action but has minimal broader market impact.