Description

SEBI has issued Recovery Certificate No. RC9046 of 2026, a Notice of Demand against Sheo Kumar Kejriwal HUF (PAN: AAXHS5756C) for recovery of dues arising from enforcement action in the Illiquid Stock Options manipulation case.

Summary

SEBI has issued Recovery Certificate No. RC9046 of 2026, constituting a Notice of Demand against Sheo Kumar Kejriwal HUF (PAN: AAXHS5756C). This certificate is issued in connection with enforcement proceedings in the matter of Illiquid Stock Options traded on the National Stock Exchange (NSE). The recovery certificate demands payment of penalty, disgorgement, or other dues determined against the entity in a prior SEBI order.

Key Points

  • Recovery Certificate No. RC9046 of 2026 issued by SEBI against Sheo Kumar Kejriwal HUF
  • PAN of the entity: AAXHS5756C
  • Action relates to the Illiquid Stock Options matter on NSE
  • Notice of Demand requires the entity to pay outstanding dues to SEBI
  • Failure to comply may lead to further coercive recovery proceedings

Regulatory Changes

No new regulatory changes introduced. This is an individual enforcement and recovery action pursuant to an existing SEBI order under the SEBI Act, 1992 and/or SEBI (Intermediaries) Regulations.

Compliance Requirements

  • The named entity (Sheo Kumar Kejriwal HUF, PAN: AAXHS5756C) is required to pay the demanded amount within the stipulated timeframe specified in the notice
  • Non-payment may result in attachment of assets, bank accounts, and other coercive recovery measures under the SEBI Act
  • The entity should respond to or comply with the notice within the deadline prescribed in the RC

Important Dates

  • Certificate issued: February 2026
  • Payment deadline: As specified in the Recovery Certificate (typically 15–30 days from date of notice)

Impact Assessment

This action is limited in scope to the named individual HUF entity and has no direct impact on broader markets or other market participants. It is part of SEBI’s systematic enforcement drive to recover dues from entities penalised in the Illiquid Stock Options matter, which involved widespread manipulation in the options segment of NSE. The action demonstrates SEBI’s continued commitment to enforcing its prior orders and recovering penalties from non-compliant entities.

Impact Justification

Individual enforcement recovery action against a specific HUF entity; part of SEBI's ongoing recovery proceedings in the Illiquid Stock Options matter with no broader market impact.