Description

SEBI issues a prohibitory order under Recovery Certificate No. 3202 of 2021 against Vijayraj Surana to recover outstanding dues in the matter of M/s. Surana Corporation Ltd., directing banks and depositories to freeze assets.

Summary

SEBI has issued a prohibitory order under Recovery Certificate No. 3202 of 2021 against Vijayraj Surana in the matter of M/s. Surana Corporation Ltd. This order directs banks, financial institutions, and depositories to freeze the bank accounts and demat accounts of the named individual to facilitate recovery of outstanding dues owed to SEBI.

Key Points

  • Prohibitory order issued against Vijayraj Surana under Recovery Certificate No. 3202 of 2021
  • Related to enforcement proceedings in the matter of M/s. Surana Corporation Ltd.
  • Banks and depositories are directed to freeze/attach the accounts of the named party
  • Order issued by the Recovery Officer of SEBI under the SEBI Act
  • Part of SEBI’s ongoing recovery proceedings to enforce payment of outstanding penalties/dues

Regulatory Changes

No new regulatory changes. This is an enforcement/recovery action under existing SEBI recovery powers granted under the Securities and Exchange Board of India Act, 1992.

Compliance Requirements

  • Banks and financial institutions: Must freeze bank accounts of Vijayraj Surana upon receipt of this order
  • Depositories (NSDL/CDSL): Must freeze demat accounts of Vijayraj Surana
  • Institutions must not allow any debit transactions from the attached accounts
  • Any surplus funds in accounts are to be remitted to SEBI towards recovery of dues

Important Dates

  • Order Date: March 6, 2026
  • Recovery Certificate No.: 3202 of 2021 (original certificate issued in 2021)

Impact Assessment

This order has minimal market impact as it is a targeted enforcement action against a specific individual. It reflects SEBI’s continued efforts to recover outstanding dues from parties against whom penalties or disgorgement orders were previously issued. M/s. Surana Corporation Ltd. was subject to prior SEBI enforcement proceedings; this prohibitory order is part of the consequential recovery process. Market participants and investors are not directly affected.

Impact Justification

Enforcement action against a specific individual for recovery of dues; no broader market or systemic impact. Relevant only to the named party and M/s. Surana Corporation Ltd.