Description

SEBI announces the completion of Recovery Certificate No. 8436 of 2024 dated December 10, 2024, issued against defaulter Nidhi Singh (PAN: CPWPS7287E) in connection with trading in illiquid stock options on BSE.

Summary

SEBI has announced the completion of Recovery Certificate No. 8436 of 2024, which was originally issued on December 10, 2024, against Nidhi Singh (Defaulter, PAN: CPWPS7287E) in the matter of trading in illiquid stock options on BSE. The completion signifies that the recovery proceedings initiated against the defaulter have been concluded.

Key Points

  • Recovery Certificate No. 8436 of 2024 dated December 10, 2024 has been completed
  • The defaulter is Nidhi Singh with PAN CPWPS7287E
  • The underlying matter pertains to trading in illiquid stock options on BSE
  • This is an administrative enforcement action by SEBI’s recovery mechanism
  • Completion of the RC indicates the recovery process has been brought to a close

Regulatory Changes

No new regulatory changes. This circular is an administrative notice confirming the closure/completion of an existing recovery certificate proceeding.

Compliance Requirements

No new compliance requirements for market participants. This notice is specific to the individual defaulter (Nidhi Singh, PAN: CPWPS7287E) and does not impose obligations on other entities.

Important Dates

  • Recovery Certificate Issued: December 10, 2024 (RC No. 8436 of 2024)
  • Completion Date: February 2026 (as per this circular)

Impact Assessment

This circular has minimal market impact. It is an administrative closure notice related to an individual enforcement action concerning illiquid stock options trading on BSE. The completion of the recovery certificate does not affect market operations, trading rules, or compliance frameworks for other market participants. It signals SEBI’s continued enforcement of its recovery mechanisms against individuals found in violation of market regulations.

Impact Justification

Administrative closure of an individual enforcement action; completion of a recovery certificate against a single defaulter has no broader market or systemic impact.