Description
SEBI issues prohibitory order under Recovery Certificate No. 5720 of 2022 against Profitsaim and its Proprietor Syed Ayaz (PAN: FHCPS5667F) to enforce recovery of dues.
Summary
SEBI has issued a prohibitory order under Recovery Certificate No. 5720 of 2022 against Profitsaim and its Proprietor Syed Ayaz (PAN: FHCPS5667F). This order is part of SEBI’s recovery proceedings to enforce collection of outstanding dues from the defaulter.
Key Points
- Prohibitory order issued against Profitsaim and its Proprietor Syed Ayaz (PAN: FHCPS5667F)
- Recovery Certificate No. 5720 of 2022 forms the basis of this enforcement action
- Order prohibits the defaulter from transferring, alienating, or dealing with assets
- Action taken under SEBI’s recovery proceedings framework
- Directed to banks, depositories, and other relevant parties to enforce the prohibition
Regulatory Changes
No regulatory changes. This is an enforcement/recovery action under existing SEBI recovery proceedings framework.
Compliance Requirements
- Banks, depositories, and financial institutions receiving this order must freeze/prohibit transactions in accounts of the named defaulter
- Third parties holding assets of Profitsaim or Syed Ayaz must comply with the prohibitory directions
- Any dealings in violation of this order would be liable for action under applicable law
Important Dates
- Recovery Certificate No. 5720 issued: 2022
- Prohibitory Order issued: February 17, 2026
Impact Assessment
This order has minimal broader market impact as it targets a specific individual entity (Profitsaim/Syed Ayaz). The action is routine enforcement by SEBI to recover outstanding dues. Impact is confined to the defaulter whose assets will be frozen pending recovery of dues under Recovery Certificate No. 5720 of 2022.
Impact Justification
Routine SEBI enforcement action targeting a specific defaulter entity (Profitsaim/Syed Ayaz) with no broader market impact. Prohibitory orders restrict the defaulter from dealing in assets to facilitate recovery of dues.