Description

SEBI issues Notice of Demand under Recovery Certificate No. RC9049 of 2026 against Viswaroop Marketing Pvt. Ltd. (PAN: AADCV1815E) in connection with the Illiquid Stock Options matter, directing recovery of dues.

Summary

SEBI has issued a Notice of Demand under Recovery Certificate No. RC9049 of 2026 against Viswaroop Marketing Pvt. Ltd. (PAN: AADCV1815E) in the matter of Illiquid Stock Options. This notice directs recovery of outstanding dues arising from prior regulatory proceedings and adjudication orders related to manipulative trading in illiquid stock options.

Key Points

  • Recovery Certificate No. RC9049 of 2026 issued against Viswaroop Marketing Pvt. Ltd.
  • PAN of the noticee: AADCV1815E
  • Pertains to the Illiquid Stock Options enforcement matter
  • Notice of Demand served requiring payment of outstanding penalty/dues
  • Failure to comply may result in further coercive recovery action by SEBI

Regulatory Changes

No new regulatory changes introduced. This document is an enforcement/recovery action under existing SEBI regulations governing penalty recovery, specifically pursuant to Section 28A of the SEBI Act, 1992, which empowers SEBI to recover dues as arrears of land revenue.

Compliance Requirements

  • Viswaroop Marketing Pvt. Ltd. must pay the outstanding dues specified in the Recovery Certificate within the prescribed timeframe
  • Non-payment may lead to attachment and sale of assets, arrest, and other coercive recovery measures under applicable law
  • The noticee should contact SEBI’s recovery department to settle dues and avoid further enforcement action

Important Dates

  • Recovery Certificate No. RC9049 issued in 2026
  • Document date: February 24, 2026
  • Payment deadline: As specified in the notice (refer to the original PDF for the exact deadline)

Impact Assessment

This is a targeted enforcement action against a single entity, Viswaroop Marketing Pvt. Ltd., and has no direct impact on broader markets or other market participants. The Illiquid Stock Options matter was a large SEBI enforcement action covering numerous entities found to have engaged in manipulative trading. This recovery notice represents the ongoing collection phase of those proceedings. Market impact is negligible; however, this signals SEBI’s continued pursuit of penalty recovery from all entities penalized in the illiquid stock options case.

Impact Justification

Entity-specific enforcement action for recovery of dues related to illiquid stock options violations; no broad market impact but high severity for the named entity.