Description
SEBI has issued a Notice of Demand under Certificate No. RC9055 of 2026 against Vishal Patodia (PAN: AFGPP1359C) for recovery of dues arising from the matter of Illiquid Stock Options.
Summary
SEBI has issued a Notice of Demand under Recovery Certificate No. RC9055 of 2026 against Vishal Patodia (PAN: AFGPP1359C) in connection with the matter of Illiquid Stock Options. This notice pertains to the recovery of outstanding dues pursuant to a prior regulatory order.
Key Points
- Recovery Certificate No. RC9055 of 2026 issued against Vishal Patodia
- PAN of the defaulter: AFGPP1359C
- Case pertains to dealings in Illiquid Stock Options segment
- Notice of Demand issued for recovery of outstanding dues/penalties
- Proceedings initiated under SEBI’s recovery mechanism for enforcement of orders
Regulatory Changes
No new regulatory changes. This is an enforcement/recovery action under existing SEBI regulations and recovery certificate mechanism.
Compliance Requirements
- The named individual (Vishal Patodia) is required to pay the demanded amount as specified in the recovery certificate
- Failure to comply may result in further enforcement actions including attachment of assets
- No compliance obligations for other market participants
Important Dates
- Certificate issued: 2026 (RC9055 of 2026)
- Document date: March 5, 2026
Impact Assessment
This notice has minimal broader market impact as it is an individual enforcement action. It is part of SEBI’s ongoing efforts to recover dues from entities found to have engaged in manipulative trading in the Illiquid Stock Options segment — a matter SEBI has been actively pursuing against multiple individuals and entities. No systemic or market-wide implications.
Impact Justification
This is an individual enforcement action against a specific person for dues related to illiquid stock options trading violations. It has no broader market impact and is routine in nature for recovery proceedings.