Description

SEBI issues prohibitory order under three Recovery Certificates (Nos. 2229 of 2019, 4965 of 2022 and 4966 of 2022) against Makkena Rama Krishna (PAN: BCKPK1101P) in the matter of Exelon Infrastructure Ltd and Venus Power Ventures (India) Limited.

Summary

SEBI has issued a prohibitory order under Recovery Certificate Nos. 2229 of 2019, 4965 of 2022 and 4966 of 2022 against Makkena Rama Krishna (PAN: BCKPK1101P) in connection with the matters of Exelon Infrastructure Ltd and Venus Power Ventures (India) Limited. This order is part of SEBI’s recovery proceedings framework to enforce collection of outstanding dues from the defaulter.

Key Points

  • Prohibitory order issued against Makkena Rama Krishna (PAN: BCKPK1101P)
  • Three recovery certificates form the basis of this enforcement action: Nos. 2229 of 2019, 4965 of 2022, and 4966 of 2022
  • Order relates to the matters of Exelon Infrastructure Ltd and Venus Power Ventures (India) Limited
  • Spans recovery certificates from 2019 and 2022, indicating long-standing dues
  • Order prohibits the defaulter from transferring, alienating, or dealing with assets
  • Directed to banks, depositories, and other relevant parties to enforce the prohibition

Regulatory Changes

No regulatory changes. This is an enforcement/recovery action under the existing SEBI recovery proceedings framework.

Compliance Requirements

  • Banks, depositories, and financial institutions receiving this order must freeze/prohibit transactions in accounts of Makkena Rama Krishna
  • Third parties holding assets of the defaulter must comply with the prohibitory directions
  • Any dealings in violation of this order would be liable for action under applicable law
  • The defaulter is required to settle outstanding dues as per the three recovery certificates

Important Dates

  • Recovery Certificate No. 2229 issued: 2019
  • Recovery Certificate No. 4965 issued: 2022
  • Recovery Certificate No. 4966 issued: 2022
  • Prohibitory Order issued: February 25, 2026

Impact Assessment

This order has minimal broader market impact as it targets a specific individual (Makkena Rama Krishna) in relation to Exelon Infrastructure Ltd and Venus Power Ventures (India) Limited. The existence of three recovery certificates — one dating back to 2019 — indicates a prolonged failure to satisfy dues. The action is routine enforcement by SEBI to recover outstanding amounts. Impact is confined to the defaulter whose assets will be restricted pending full recovery of dues under the three recovery certificates.

Impact Justification

SEBI enforcement action against an individual (Makkena Rama Krishna) under three recovery certificates spanning 2019 and 2022, relating to two companies (Exelon Infrastructure Ltd and Venus Power Ventures India Limited). Multiple certificates across years indicates persistent non-compliance but impact remains confined to the specific defaulter with no broader market implications.