Description

SEBI has issued a cancellation order for Recovery Certificate No. 6113 of 2022 against Mr. Dhruv Agrawal and Ms. Nishi Agrawal in the matter of Manpasand Beverages Limited, indicating compliance completion or settlement of the outstanding dues.

Summary

SEBI has issued a Cancellation Order for Recovery Certificate No. 6113 of 2022, which was originally issued against Mr. Dhruv Agrawal and Ms. Nishi Agrawal in the matter of Manpasand Beverages Limited. The cancellation indicates that the conditions necessitating the recovery certificate have been resolved, either through payment of dues, compliance with SEBI orders, or other settlement.

Key Points

  • Recovery Certificate No. 6113 of 2022 issued against Mr. Dhruv Agrawal and Ms. Nishi Agrawal has been cancelled
  • The matter pertains to enforcement proceedings related to Manpasand Beverages Limited
  • Cancellation of a recovery certificate typically signifies that outstanding dues have been paid or compliance has been achieved
  • This is part of SEBI’s ongoing enforcement and recovery proceedings framework

Regulatory Changes

No new regulatory changes are introduced by this order. This is an administrative closure order within SEBI’s existing enforcement framework for recovery of dues from defaulting parties.

Compliance Requirements

  • No new compliance requirements are imposed by this cancellation order
  • The cancellation relieves Mr. Dhruv Agrawal and Ms. Nishi Agrawal from the obligations under Recovery Certificate No. 6113 of 2022
  • Market participants and intermediaries need not take any action in response to this order

Important Dates

  • Recovery Certificate No. 6113 originally issued: 2022
  • Cancellation Order issued: March 10, 2026

Impact Assessment

This cancellation order has minimal market impact as it represents the closure of a historical enforcement matter. Manpasand Beverages Limited has been subject to SEBI enforcement actions, and this cancellation indicates partial resolution of outstanding recovery proceedings against associated individuals. The order is procedural in nature and does not affect current market operations or impose new obligations on market participants.

Impact Justification

This is an administrative cancellation of a recovery certificate indicating dues have been settled or compliance completed. It has limited forward-looking market impact as Manpasand Beverages is a historical enforcement matter.