Description
SEBI issues a prohibitory order under Recovery Certificate No. 2824 of 2020 against Vaishnavi Gold Limited for recovery of dues in the matter of Vaishnavi Gold Limited.
Summary
SEBI has issued a prohibitory order in connection with Recovery Certificate No. 2824 of 2020 against Vaishnavi Gold Limited. This order is part of SEBI’s enforcement and recovery proceedings to recover dues owed by Vaishnavi Gold Limited in the matter concerning the company.
Key Points
- Recovery Certificate No. 2824 of 2020 issued against Vaishnavi Gold Limited
- SEBI has invoked its recovery powers under applicable regulations
- A prohibitory order has been passed restricting the disposal of assets
- The action is directed against Vaishnavi Gold Limited in its own matter
Regulatory Changes
No new regulatory changes introduced. This order is an enforcement action under existing SEBI recovery and enforcement provisions.
Compliance Requirements
- Vaishnavi Gold Limited is prohibited from disposing of, alienating, or encumbering its assets as directed in the order
- Any banks, depositories, or financial institutions holding assets of the defaulter are directed to comply with the prohibitory order
- The defaulter must not transfer or create any third-party interest on the attached assets
Important Dates
- Recovery Certificate issued: 2020 (RC No. 2824 of 2020)
- Prohibitory order date: March 6, 2026
Impact Assessment
This is an enforcement/recovery action specific to Vaishnavi Gold Limited. The prohibitory order restricts the company from alienating assets until dues to SEBI are recovered. The broader market impact is limited, but investors and counterparties of Vaishnavi Gold Limited should be aware of the restrictions on the company’s assets.
Impact Justification
Enforcement action by SEBI for recovery of dues; affects Vaishnavi Gold Limited directly but has limited broader market impact.