Description

SEBI announces the completion of Recovery Certificate No. 5415 of 2022 (dated August 22, 2022) issued jointly and severally against Ram Minerals and Chemicals Ltd. (formerly ICVL Chemicals Limited) and Suresh Aggarwal Kumar as defaulters.

Summary

SEBI has announced the completion of Recovery Certificate No. 5415 of 2022 (dated August 22, 2022) issued against Ram Minerals and Chemicals Ltd. (formerly known as ICVL Chemicals Limited) (PAN: AACCI5978A) and Suresh Aggarwal Kumar (PAN: AARPA4113B), jointly and severally, in the matter of Ram Minerals and Chemicals Ltd.

Key Points

  • Recovery Certificate No. 5415 of 2022, originally issued on August 22, 2022, has been completed.
  • The defaulters are Ram Minerals and Chemicals Ltd. (formerly ICVL Chemicals Limited) (PAN: AACCI5978A) and Suresh Aggarwal Kumar (PAN: AARPA4113B).
  • Liability was joint and several between the company and the individual.
  • The recovery proceedings initiated under the certificate have now concluded.

Regulatory Changes

No new regulatory changes. This notice records the administrative closure of an existing recovery action.

Compliance Requirements

No further compliance obligations arise from this notice for the general market. The specific recovery obligations under Certificate No. 5415 of 2022 have been fulfilled or otherwise concluded for the named parties.

Important Dates

  • Original Recovery Certificate Date: August 22, 2022
  • Recovery Certificate Number: 5415 of 2022
  • Completion Notice Date: February 19, 2026

Impact Assessment

This is a routine enforcement closure notice with no broad market impact. It pertains solely to Ram Minerals and Chemicals Ltd. (formerly ICVL Chemicals Limited) and Suresh Aggarwal Kumar. General investors and market participants are not affected. The completion signals the end of SEBI’s recovery proceedings under the cited certificate.

Impact Justification

Routine administrative closure of a 2022 recovery certificate against a specific company and individual. No new enforcement action or market-wide regulatory change; affects only the named defaulters.