Description

SEBI issues Recovery Certificate No. RC9008 of 2026 under Attachment Proceedings Nos. 15168 & 15169 against Ritu Agarwal (PAN: ACBPC0253E) for recovery of dues in the matter of Illiquid Stock Options.

Summary

SEBI has issued Recovery Certificate No. RC9008 of 2026 under Attachment Proceedings (A.P.) Nos. 15168 & 15169 of 2026 against Ritu Agarwal (PAN: ACBPC0253E) for recovery of outstanding dues in the matter of Illiquid Stock Options. This is part of SEBI’s ongoing enforcement action against entities found to have engaged in manipulative trading in illiquid stock options on Indian exchanges.

Key Points

  • Recovery Certificate No. RC9008 of 2026 issued against Ritu Agarwal (PAN: ACBPC0253E)
  • Attachment Proceedings Nos. 15168 & 15169 of 2026 initiated for recovery of dues
  • Action taken in the matter of Illiquid Stock Options, a major SEBI enforcement case
  • Certificate authorises attachment and sale of the defaulter’s assets to recover outstanding penalties/disgorgement amounts

Regulatory Changes

No new regulatory changes. This document is an enforcement/recovery action under existing SEBI regulations including the SEBI Act, 1992 and SEBI (Recovery of Amounts) Rules, 2013.

Compliance Requirements

  • Ritu Agarwal is required to pay the outstanding dues as specified in the Recovery Certificate
  • Banks, depositories, and other entities holding the defaulter’s assets may be directed to attach such assets pursuant to the Attachment Proceedings
  • Third parties holding assets of the defaulter must comply with attachment orders issued under the RC

Important Dates

  • Recovery Certificate Date: February 20, 2026
  • A.P. Nos. 15168 & 15169 of 2026 initiated concurrently with RC issuance

Impact Assessment

This is an individual enforcement action with no direct market-wide impact. The Illiquid Stock Options matter has resulted in SEBI issuing a large number of recovery certificates against various entities found to have indulged in manipulative trading. The action signals continued enforcement rigour by SEBI against identified defaulters who have not complied with earlier penalty/disgorgement orders.

Impact Justification

Individual enforcement action for penalty recovery in the long-running Illiquid Stock Options case; no broader market impact, limited to the named defaulter.