Description
SEBI issues a General Remittance Order dated February 25, 2026 under Recovery Certificate No. 2992 of 2020 against Probus Capital Ltd (PAN: AAECP5806E) for recovery of dues in the matter of Ybrant Digital Limited (Lycos Internet Ltd).
Summary
SEBI has issued a General Remittance Order dated February 25, 2026 under Recovery Certificate (RC) No. 2992 of 2020 against Probus Capital Ltd (PAN: AAECP5806E) in the matter of Ybrant Digital Limited (also known as Lycos Internet Ltd). This order directs remittance of funds held by or payable to the defaulter as part of SEBI’s ongoing recovery proceedings.
Key Points
- General Remittance Order issued on February 25, 2026 by SEBI’s Recovery Officer
- Recovery Certificate No. 2992 of 2020 is the underlying legal instrument
- Directed against: Probus Capital Ltd (PAN: AAECP5806E)
- Related matter: Ybrant Digital Limited (Lycos Internet Ltd)
- Order instructs any person holding funds/assets of the defaulter to remit such amounts to SEBI
Regulatory Changes
No new regulatory changes. This is an enforcement and recovery action under the existing SEBI Act and the SEBI (Recovery of Amounts) Regulations framework.
Compliance Requirements
- Any bank, financial institution, or third party holding funds, securities, or assets belonging to or payable to Probus Capital Ltd is directed to remit those amounts to SEBI forthwith
- Recipients of this order must not disburse any funds to Probus Capital Ltd and must instead remit them to SEBI toward satisfaction of RC No. 2992 of 2020
- Non-compliance with a remittance order issued by SEBI can attract further legal action
Important Dates
- Recovery Certificate No. 2992 issued: 2020
- General Remittance Order date: February 25, 2026
Impact Assessment
This order has limited market-wide impact. It is a targeted enforcement measure against Probus Capital Ltd under a years-old Recovery Certificate in the Ybrant Digital Limited matter. Investors in Ybrant Digital (Lycos Internet Ltd) should note this as part of SEBI’s ongoing efforts to recover dues from entities found to have violated securities laws. There is no immediate trading restriction or policy change affecting the broader market.
Impact Justification
Routine SEBI enforcement/recovery action against a specific entity under an existing Recovery Certificate from 2020; operational impact is limited to the named parties and does not affect broader market participants.