Description
SEBI release order for Rajiv Verma (PAN: ADIPV7096C) regarding completion of recovery proceedings in the matter of dealings in illiquid stock options at BSE under Certificate No. 8101 of 2024.
Summary
SEBI has issued a release order concerning Rajiv Verma (PAN: ADIPV7096C) in connection with dealings in illiquid stock options at the Bombay Stock Exchange (BSE). This order relates to the completion of recovery proceedings under Certificate No. 8101 of 2024 dated September 30, 2024.
Key Points
- Release order issued for defaulter Rajiv Verma (PAN: ADIPV7096C)
- Case relates to dealings in illiquid stock options at BSE
- Recovery Certificate No. 8101 of 2024 dated September 30, 2024
- Recovery proceedings have been completed
- Order published on January 29, 2026
Regulatory Changes
No new regulatory changes. This is an enforcement action related to existing regulations on illiquid stock options trading and market manipulation.
Compliance Requirements
This release order marks the completion of recovery proceedings. Market participants should note SEBI’s continued enforcement against manipulation of illiquid stock options and ensure compliance with trading regulations.
Important Dates
- September 30, 2024: Recovery Certificate No. 8101 issued
- January 29, 2026: Release order published
Impact Assessment
This order has limited broader market impact as it pertains to an individual enforcement case. However, it demonstrates SEBI’s active pursuit of recovery in cases involving illiquid stock options manipulation. The completion of recovery proceedings serves as a deterrent for similar violations and reinforces regulatory oversight of options trading activities.
Impact Justification
High severity enforcement action against individual defaulter but low broader market impact as it pertains to completed recovery proceedings for a specific case of illiquid stock options manipulation.