Description

SEBI Recovery Officer releases attached bank accounts, demat accounts, and mutual fund folios of defaulter Vinod V. Sable after full recovery of Rs. 60,03,000 against Recovery Certificate No. 8957 of 2025.

Summary

SEBI’s Recovery Officer has issued an order releasing all attached bank accounts, lockers, demat accounts, and mutual fund folios of Shri Vinod V. Sable (PAN: BUQPS6087Q), a defaulter in the matter of Svarnim Trade Udyog Ltd. The release follows full and final recovery of the outstanding dues under Recovery Certificate No. 8957 of 2025.

Key Points

  • Recovery Certificate No. 8957 of 2025 was drawn on November 25, 2025 for recovery of Rs. 58,51,000 (plus interest/costs/charges) from Vinod V. Sable.
  • Notices of Attachment dated December 17, 2025 had attached the defaulter’s bank accounts/lockers, demat accounts, and mutual fund folios under Attachment Proceedings Nos. 15068 & 15069 of 2025.
  • SEBI recovered Rs. 60,03,000 (including further interest/costs/expenses), constituting full and final settlement of the demand.
  • All banks, mutual funds, NSDL, and CDSL are directed to release the attached assets of the defaulter.
  • Entities where the defaulter holds no accounts or folios need not inform SEBI.

Regulatory Changes

No regulatory changes. This is an administrative closure order under SEBI’s recovery proceedings.

Compliance Requirements

  • All banks in India, mutual funds, NSDL, and CDSL must release any attached accounts, lockers, demat accounts, or mutual fund folios held in the name of Vinod V. Sable (PAN: BUQPS6087Q) pursuant to the earlier attachment notices.
  • Release must be made under intimation to SEBI.
  • Entities with no accounts/folios for the defaulter are not required to respond.

Important Dates

  • November 25, 2025: Recovery Certificate No. 8957 of 2025 issued.
  • December 17, 2025: Notices of Attachment issued for bank accounts, demat accounts, and mutual fund folios.
  • March 5, 2026: Release order issued after full recovery of Rs. 60,03,000.

Impact Assessment

This order has no broader market impact. It is an individual-level administrative action concluding SEBI’s recovery proceedings against Vinod V. Sable in the matter of Svarnim Trade Udyog Ltd. The matter is fully resolved with complete recovery of dues.

Impact Justification

Routine administrative release order following full recovery of dues from an individual defaulter; no broader market or regulatory impact.