Description

SEBI issues a prohibitory order under Recovery Certificate No. 4695 of 2022 against Maddikeri Sreenivasulu (PAN: CTYPS9045Q) in the matter of Venus Power Ventures (India) Ltd., directing banks and financial institutions to freeze assets to recover dues.

Summary

SEBI has issued a prohibitory order under Recovery Certificate No. 4695 of 2022 against Maddikeri Sreenivasulu (PAN: CTYPS9045Q) in connection with the matter of Venus Power Ventures (India) Ltd. The order directs banks, depositories, and other financial institutions to prohibit any debit or withdrawal from the accounts and assets of the named individual to facilitate recovery of outstanding dues owed to SEBI.

Key Points

  • Prohibitory order issued against Maddikeri Sreenivasulu (PAN: CTYPS9045Q)
  • Pertains to Recovery Certificate No. 4695 of 2022 in the matter of Venus Power Ventures (India) Ltd.
  • Banks and financial institutions directed to freeze/prohibit debits from respondent’s accounts
  • Order is part of SEBI’s enforcement and recovery proceedings under the SEBI Act

Regulatory Changes

No new regulatory changes. This is an enforcement action under existing SEBI recovery mechanisms provided under Section 28A of the SEBI Act, 1992.

Compliance Requirements

  • All banks, depositories, and financial institutions holding accounts or assets of Maddikeri Sreenivasulu are required to comply with the prohibitory order immediately
  • Institutions must not allow any debit, withdrawal, or transfer from the identified accounts until further notice from SEBI
  • Compliance confirmation may be required to be sent to SEBI’s Recovery Officer

Important Dates

  • Recovery Certificate issued: 2022 (RC No. 4695 of 2022)
  • Prohibitory order date: February 25, 2026

Impact Assessment

This order has no broad market impact. It is a targeted enforcement action against a specific individual (Maddikeri Sreenivasulu) arising from the Venus Power Ventures (India) Ltd. matter. The prohibitory order affects only the named respondent’s financial accounts and assets. General investors and market participants are not affected.

Impact Justification

Routine SEBI enforcement/recovery action against a specific individual in an older matter (RC 2022); no broader market or regulatory policy impact.