Description

SEBI issues recovery certificate and notice of demand against Pramod Kumar Jain (PAN: ACLPJ7469D) for dues related to illiquid stock options case.

Summary

SEBI has issued Recovery Certificate No. RC9013 of 2026 along with a Notice of Demand against Pramod Kumar Jain (PAN: ACLPJ7469D) in connection with illiquid stock options matter. This document initiates recovery proceedings to collect outstanding dues determined by SEBI in the underlying enforcement case.

Key Points

  • Recovery Certificate No. RC9013 of 2026 issued against Pramod Kumar Jain
  • Individual PAN: ACLPJ7469D
  • Case relates to illiquid stock options violations
  • Notice of Demand issued for recovery of dues
  • Part of SEBI’s enforcement and recovery proceedings

Regulatory Changes

No new regulatory changes. This is an enforcement action under existing SEBI recovery proceedings framework pursuant to Section 28A of the SEBI Act, 1992.

Compliance Requirements

Pramod Kumar Jain is required to:

  • Pay the demanded amount as specified in the recovery certificate
  • Comply with the notice of demand within the stipulated timeframe
  • Failure to comply may result in further recovery actions including attachment of assets, bank accounts, and other coercive measures

Important Dates

  • Certificate Issue Date: February 6, 2026
  • Payment deadline and other specific dates would be mentioned in the detailed certificate document

Impact Assessment

Market Impact: Low - This is an individual enforcement action with no direct market-wide implications.

Regulatory Significance: Medium - Demonstrates SEBI’s continued focus on recovering dues from defaulters in illiquid stock options cases and its commitment to enforcement actions.

Affected Parties: Pramod Kumar Jain specifically. Other entities involved in similar illiquid stock options violations should note SEBI’s active pursuit of recovery proceedings.

Impact Justification

Recovery proceeding affects individual defaulter but demonstrates SEBI's enforcement actions in illiquid stock options cases. Limited market-wide impact.