Description

SEBI issued a prohibitory order against Aditya Narayan Singh under Recovery Certificate No. 2329 of 2019 in connection with the matter of Celestial Biolabs Ltd., directing attachment of assets to recover dues.

Summary

SEBI has issued a prohibitory order against Aditya Narayan Singh in connection with Recovery Certificate No. 2329 of 2019, arising from proceedings related to Celestial Biolabs Ltd. The order directs the attachment or prohibition on disposal of assets held by the defaulter to facilitate recovery of outstanding dues owed to SEBI.

Key Points

  • Recovery Certificate No. 2329 of 2019 was issued against Aditya Narayan Singh.
  • The matter is linked to Celestial Biolabs Ltd., likely involving trading violations or non-payment of penalties/disgorgement amounts.
  • A prohibitory order has been issued restricting the defaulter from disposing of, transferring, or encumbering assets.
  • The order is part of SEBI’s enforcement and recovery mechanism under the SEBI Act and the Second Schedule of the Income Tax Act (as applicable to recovery proceedings).
  • Banks, depositories, and other entities holding assets of the defaulter may be directed to freeze or report such assets.

Regulatory Changes

No new regulatory changes. This is an enforcement action under existing SEBI recovery provisions.

Compliance Requirements

  • Aditya Narayan Singh is prohibited from disposing of, transferring, alienating, or encumbering any assets until further orders.
  • Any banks, financial institutions, or depositories holding assets of the named individual must comply with the prohibitory directions.
  • Third parties are put on notice not to assist in asset transfers by the defaulter.

Important Dates

  • Recovery Certificate No. 2329 issued: 2019
  • Prohibitory Order date: March 12, 2026

Impact Assessment

This order has minimal broader market impact. It is an individual enforcement action targeting a specific defaulter in the Celestial Biolabs matter. The action demonstrates SEBI’s continued pursuit of outstanding recovery certificates, including older ones dating back to 2019. Market participants and intermediaries holding assets of the named individual must take note and comply with the prohibitory directions.

Impact Justification

Routine enforcement/recovery action targeting a specific individual; no broad market or regulatory policy impact.