Description
SEBI recovery certificate notice of demand issued to Kusum Devi Agarwal (PAN: AFBPA5176P) in connection with illiquid stock options matter.
Summary
SEBI has issued Recovery Certificate No. RC9011 of 2026 containing a Notice of Demand addressed to Kusum Devi Agarwal (PAN: AFBPA5176P) in connection with a matter related to illiquid stock options. This is part of SEBI’s enforcement and recovery proceedings to collect outstanding dues arising from regulatory violations.
Key Points
- Recovery Certificate Number: RC9011 of 2026
- Entity: Kusum Devi Agarwal
- PAN: AFBPA5176P
- Matter: Illiquid Stock Options
- Document Type: Notice of Demand
- Issuing Authority: Securities and Exchange Board of India (SEBI)
Regulatory Changes
No new regulatory changes. This is an enforcement action under existing SEBI recovery provisions.
Compliance Requirements
Kusum Devi Agarwal is required to comply with the demand notice and pay the outstanding amounts as specified in the recovery certificate. Failure to comply may result in further recovery proceedings including attachment of assets and other coercive measures as per SEBI (Recovery of Penalties and Interest) Regulations.
Important Dates
- Certificate Issue Date: February 2026
- Payment deadline: As specified in the recovery certificate
Impact Assessment
Individual Impact: High - The noticee faces mandatory payment obligations and potential asset recovery actions if non-compliant.
Market Impact: Minimal - This is an individual enforcement action with no direct market-wide implications. Part of SEBI’s ongoing regulatory enforcement activities in illiquid stock options matters.
Impact Justification
Recovery certificate issuance indicates enforcement action against an individual for outstanding dues related to illiquid stock options matter. High severity for the individual concerned but minimal market-wide impact.