Description

SEBI issues a prohibitory order under Recovery Certificate No. 4692 of 2022 against Venkata Sivaram Prasad Raavi (PAN: ADTPR5863J) for recovery of dues in the matter of Venus Power Ventures (India) Ltd.

Summary

SEBI has issued a Prohibitory Order under Recovery Certificate No. 4692 of 2022 against Venkata Sivaram Prasad Raavi (PAN: ADTPR5863J) in the matter of Venus Power Ventures (India) Ltd. The order prohibits the defaulter and associated banks/entities from operating or releasing funds from specified accounts pending recovery of outstanding dues owed to SEBI.

Key Points

  • Recovery Certificate No. 4692 of 2022 issued against Venkata Sivaram Prasad Raavi (PAN: ADTPR5863J)
  • Order issued in connection with the matter of Venus Power Ventures (India) Ltd
  • Prohibitory order restrains the defaulter from alienating, transferring, or disposing of assets
  • Banks and financial institutions directed to freeze/block specified accounts of the defaulter
  • Order is part of SEBI’s enforcement and recovery proceedings against non-compliant entities

Regulatory Changes

No new regulatory changes. This is an enforcement action under existing SEBI recovery mechanisms pursuant to the SEBI Act and the SEBI (Recovery of Amounts) Regulations.

Compliance Requirements

  • Defaulter (Venkata Sivaram Prasad Raavi): Must not alienate, transfer, or create any charge on assets covered by this order
  • Banks/Financial Institutions: Required to freeze accounts identified in the order and report compliance to SEBI
  • Third Parties: Must not facilitate any transaction that would defeat the recovery proceedings

Important Dates

  • Recovery Certificate issued: 2022 (RC No. 4692 of 2022)
  • Prohibitory Order date: February 25, 2026
  • Compliance by banks: Immediate upon receipt of the order

Impact Assessment

This order has no broader market impact. It is a targeted enforcement/recovery action against a specific individual in connection with the Venus Power Ventures (India) Ltd matter. The prohibitory order ensures that assets of the defaulter are preserved pending full recovery of dues by SEBI. Investors and market participants unrelated to this matter are unaffected.

Impact Justification

Routine enforcement/recovery action against a specific individual; no broader market or regulatory policy impact.