Description

SEBI issued a prohibitory order under Recovery Certificate No. 2991 of 2020 against M/s. Mundi Enterprise Ltd in connection with enforcement proceedings in the matter of Ybrant Digital Limited (formerly Lycos Internet Ltd).

Summary

SEBI has issued a Prohibitory Order against M/s. Mundi Enterprise Ltd under Recovery Certificate No. 2991 of 2020, in connection with enforcement proceedings arising out of the matter of Ybrant Digital Limited (also known as Lycos Internet Ltd). The prohibitory order restrains the entity from alienating, transferring, or disposing of its assets pending recovery of dues owed to SEBI.

Key Points

  • Prohibitory order issued against M/s. Mundi Enterprise Ltd as part of recovery proceedings.
  • Recovery Certificate No. 2991 of 2020 forms the basis of the enforcement action.
  • The matter is related to Ybrant Digital Limited (formerly Lycos Internet Ltd), indicating prior regulatory/adjudication proceedings against entities connected to this company.
  • The prohibitory order is a coercive measure used by SEBI to prevent disposal of assets before recovery of outstanding dues.
  • This is a continuation of older enforcement proceedings initiated in 2020.

Regulatory Changes

No new regulatory changes are introduced. This order is an enforcement action under existing SEBI recovery and attachment provisions, pursuant to the SEBI Act and the SEBI (Recovery of Money) Rules.

Compliance Requirements

  • M/s. Mundi Enterprise Ltd is prohibited from alienating, transferring, encumbering, or disposing of any assets until further orders from SEBI.
  • Any third parties (banks, depositories, registrars) notified of this order are required to comply and not facilitate any transactions in violation of the prohibitory order.
  • The entity must not create any third-party interest in its properties/assets during the subsistence of this order.

Important Dates

  • Recovery Certificate No. 2991 originally issued: 2020
  • Prohibitory Order date: March 6, 2026

Impact Assessment

This order has no broad market impact. It is a targeted enforcement action against a single entity (M/s. Mundi Enterprise Ltd) in relation to dues arising from the Ybrant Digital Limited / Lycos Internet Ltd matter. Retail investors and market participants are not directly affected. The action signals SEBI’s continued pursuit of older recovery certificates and enforcement of dues even years after the original proceedings.

Impact Justification

This is a targeted enforcement/recovery action against a specific entity (M/s. Mundi Enterprise Ltd) related to an older recovery certificate (2020). It has no broad market impact and affects only the named party; general investors and markets are not directly impacted.