Description

SEBI issues prohibitory order under Recovery Certificate No. 2411 of 2019 against M/s Rajesh Services Centre (Sole Proprietor: R Dhanalakshmi) in the matter of Edserv Softsystems Ltd, restraining alienation of assets to recover dues.

Summary

SEBI has issued a prohibitory order against M/s Rajesh Services Centre (Sole Proprietor: R Dhanalakshmi) pursuant to Recovery Certificate No. 2411 of 2019, in the matter of Edserv Softsystems Ltd. The order prohibits the entity from alienating, transferring, or disposing of assets until outstanding dues to SEBI are recovered.

Key Points

  • Prohibitory order issued under Recovery Certificate No. 2411 of 2019
  • Order directed against M/s Rajesh Services Centre, a sole proprietorship owned by R Dhanalakshmi
  • Pertains to SEBI’s enforcement action in the matter of Edserv Softsystems Ltd (related to illiquid stock options dealings)
  • The order restrains the defaulter from alienating or encumbering assets
  • Issued by SEBI’s Recovery Officer as part of ongoing recovery proceedings

Regulatory Changes

No new regulatory changes. This is an enforcement/recovery action under existing SEBI (Recovery of Money) Rules and provisions of the SEBI Act.

Compliance Requirements

  • M/s Rajesh Services Centre and its sole proprietor R Dhanalakshmi must not alienate, transfer, encumber, or dispose of any movable or immovable assets
  • Any bank or financial institution holding assets of the defaulter must not release funds without SEBI’s prior permission
  • The defaulter is required to satisfy the outstanding dues under Recovery Certificate No. 2411 of 2019

Important Dates

  • Recovery Certificate No. 2411 issued: 2019
  • Prohibitory Order issued: March 12, 2026

Impact Assessment

This order has minimal broader market impact. It is a targeted enforcement action against a single sole proprietorship involved in illiquid stock options dealings in the matter of Edserv Softsystems Ltd. The prohibitory order is a standard recovery mechanism used by SEBI to prevent asset dissipation by defaulters pending recovery of dues. Impact is limited to the named entity and its associates.

Impact Justification

Routine enforcement/recovery action against a single entity (sole proprietorship) under a 2019 recovery certificate. Limited broader market impact; relevant only to the specific defaulter and their assets.