Description

SEBI issued a General Remittance Order dated February 25, 2026 against Kontala Krishnaveni (PAN: BWKPK4464K) under Recovery Certificate No. 1969 of 2019 in the matter of Covidh Technologies Limited, directing banks to remit funds towards recovery of dues.

Summary

SEBI has issued a General Remittance Order (GRO) dated February 25, 2026 against Kontala Krishnaveni (PAN: BWKPK4464K) under Recovery Certificate No. 1969 of 2019, arising from proceedings in the matter of Covidh Technologies Limited. The GRO directs banks and financial institutions to remit funds held in the accounts of the defaulter towards satisfaction of outstanding dues owed to SEBI.

Key Points

  • General Remittance Order issued by SEBI’s Recovery Officer on February 25, 2026
  • Recovery Certificate No. 1969 of 2019 is the basis for this enforcement action
  • Order issued against Kontala Krishnaveni (PAN: BWKPK4464K)
  • Matter relates to Covidh Technologies Limited
  • Banks and financial institutions holding funds of the defaulter are directed to remit amounts towards recovery of dues

Regulatory Changes

No regulatory policy changes. This is an individual enforcement order under SEBI’s recovery proceedings framework pursuant to the SEBI Act and the SEBI (Recovery of Amounts) Rules.

Compliance Requirements

  • Banks and financial institutions holding accounts of Kontala Krishnaveni are required to comply with the remittance directions in the order
  • Institutions must remit the specified amounts to SEBI upon receipt of this order
  • Non-compliance with a General Remittance Order may attract further legal action under applicable law

Important Dates

  • Recovery Certificate Date: 2019 (RC No. 1969 of 2019)
  • General Remittance Order Date: February 25, 2026

Impact Assessment

This order has a narrow impact confined to the named individual (Kontala Krishnaveni) and any banks or financial institutions holding their assets. There is no broader market or systemic impact. The action reflects SEBI’s continued enforcement of outstanding recovery certificates from prior years, demonstrating ongoing regulatory follow-through on enforcement actions in the matter of Covidh Technologies Limited.

Impact Justification

This is an individual enforcement/recovery action against a specific defaulter related to a 2019 recovery certificate. It has no broad market or regulatory policy impact; it affects only the named individual and associated financial institutions holding their assets.