Description
SEBI issues notice of demand under Recovery Certificate No. RC9044 of 2026 against Tarkeshwar Kaloya (PAN: DGDPK0047R) in connection with the illiquid stock options case.
Summary
SEBI has issued a Notice of Demand under Recovery Certificate No. RC9044 of 2026 against Tarkeshwar Kaloya (PAN: DGDPK0047R) in relation to irregularities involving illiquid stock options. This represents an enforcement action for recovery of dues determined in the matter of illiquid stock options trading.
Key Points
- Recovery Certificate Number: RC9044 of 2026
- Party Name: Tarkeshwar Kaloya
- PAN: DGDPK0047R
- Matter: Illiquid Stock Options
- Document Type: Notice of Demand
- Issued by: Securities and Exchange Board of India
Regulatory Changes
No new regulatory changes. This is an enforcement action under existing SEBI recovery framework provisions.
Compliance Requirements
Tarkeshwar Kaloya is required to comply with the demand notice and pay the amounts specified in the recovery certificate within the stipulated timeline to avoid further recovery proceedings including attachment of bank accounts, demat accounts, and other assets.
Important Dates
- Notice Issue Date: February 20, 2026
- Payment deadline and other specific dates are mentioned in the detailed notice document
Impact Assessment
This is an individual enforcement action with no direct market-wide impact. It demonstrates SEBI’s continued vigilance in pursuing recovery against parties involved in illiquid stock options manipulation cases. The action serves as a deterrent for market participants engaging in similar activities involving artificial trading in illiquid stock options.
Impact Justification
High severity enforcement action against individual entity but low market-wide impact as it targets specific party in illiquid stock options matter