Description

SEBI issues a prohibitory order under Recovery Certificate No. 3860 of 2021 against Mosto Systems in connection with the matter of Dhyana Finstock Limited, restricting transfer or disposal of assets to recover dues.

Summary

SEBI has issued a Prohibitory Order under Recovery Certificate No. 3860 of 2021 against Mosto Systems in the matter of Dhyana Finstock Limited. The order directs Mosto Systems and related parties to refrain from transferring, alienating, or disposing of any assets or securities until the recovery dues are satisfied.

Key Points

  • Recovery Certificate No. 3860 of 2021 invoked against Mosto Systems
  • Order issued in connection with SEBI proceedings in the matter of Dhyana Finstock Limited
  • Prohibitory order restricts transfer or disposal of assets/securities held by or on behalf of the named entity
  • Action taken under SEBI Act provisions for recovery of dues
  • Depositories, banks, and financial institutions are directed to ensure compliance

Regulatory Changes

No new regulatory framework changes. This is an enforcement action under existing SEBI recovery and enforcement powers pursuant to the SEBI Act, 1992 and the SEBI (Recovery of Amounts) Rules.

Compliance Requirements

  • Mosto Systems: Must not transfer, alienate, or dispose of any assets, securities, or bank balances until dues under RC No. 3860 of 2021 are fully recovered
  • Depositories (NSDL/CDSL): Directed to freeze demat accounts held by or in the name of Mosto Systems
  • Banks and financial institutions: Directed to freeze bank accounts and not allow any debit transactions without SEBI’s prior permission
  • Brokers/intermediaries: Must not release any funds or securities belonging to the named entity

Important Dates

  • Recovery Certificate No. 3860 issued: 2021
  • Prohibitory Order issued: 2026-03-02
  • Effective: Immediately upon issuance

Impact Assessment

The order has a targeted impact limited to Mosto Systems and parties associated with the Dhyana Finstock Limited matter. There is no systemic market impact. The action reflects SEBI’s ongoing enforcement of recovery proceedings against entities that have failed to comply with earlier orders or pay penalty/disgorgement amounts. General investors and market participants are not affected.

Impact Justification

Routine enforcement/recovery action targeting a specific non-compliant entity (Mosto Systems); no broader market or investor impact beyond the named party.