Description

SEBI issues prohibitory order under Recovery Certificate No. 5394 of 2022 against Acropetal Technologies Limited (PAN: AADCA1623M) and Ravi Kumar Doraiswamy (PAN: ACNPK9304L) to enforce recovery of outstanding dues in the matter of Acropetal Technologies Limited.

Summary

SEBI has issued a prohibitory order under Recovery Certificate No. 5394 of 2022 against Acropetal Technologies Limited (PAN: AADCA1623M) and Ravi Kumar Doraiswamy (PAN: ACNPK9304L) in the matter of Acropetal Technologies Limited. This order is part of SEBI’s recovery proceedings to enforce collection of outstanding dues from the defaulters.

Key Points

  • Prohibitory order issued against Acropetal Technologies Limited (PAN: AADCA1623M) and Ravi Kumar Doraiswamy (PAN: ACNPK9304L)
  • Recovery Certificate No. 5394 of 2022 forms the basis of this enforcement action
  • Order pertains to the matter of Acropetal Technologies Limited
  • Order prohibits the defaulters from transferring, alienating, or dealing with their assets
  • Action taken under SEBI’s recovery proceedings framework
  • Directed to banks, depositories, and other relevant parties to enforce the prohibition

Regulatory Changes

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

Compliance Requirements

  • Banks, depositories, and financial institutions receiving this order must freeze/prohibit transactions in accounts of Acropetal Technologies Limited and Ravi Kumar Doraiswamy
  • Third parties holding assets of the defaulters must comply with the prohibitory directions
  • Any dealings in violation of this order would be liable for action under applicable law

Important Dates

  • Recovery Certificate No. 5394 issued: 2022
  • Prohibitory Order issued: February 25, 2026

Impact Assessment

This order has minimal broader market impact as it targets specific entities (Acropetal Technologies Limited and Ravi Kumar Doraiswamy). The action is routine enforcement by SEBI to recover outstanding dues arising from the Acropetal Technologies Limited matter. Impact is confined to the defaulters whose assets will be frozen pending recovery of dues under Recovery Certificate No. 5394 of 2022.

Impact Justification

Routine SEBI enforcement action targeting specific defaulters (Acropetal Technologies Limited and Ravi Kumar Doraiswamy) with no broader market impact. Prohibitory order restricts the defaulters from dealing in assets to facilitate recovery of dues under Recovery Certificate No. 5394 of 2022.