Description

SEBI issues a release order for Recovery Certificate No. RC8035 of 2024 against Kamla Devi Bajoria (PAN: ADVPB0868R) in the matter of illiquid stock options, indicating recovery/settlement of dues.

Summary

SEBI has issued a Release Order in respect of Recovery Certificate No. RC8035 of 2024 against Kamla Devi Bajoria (PAN: ADVPB0868R) in the matter of Illiquid Stock Options. A release order in SEBI’s recovery proceedings typically indicates that the recovery of dues (penalty or disgorgement) from the noticee has been completed or that attached assets are being released upon satisfaction of the recovery certificate.

Key Points

  • Recovery Certificate No. RC8035 of 2024 has been resolved through this release order
  • The order pertains to Kamla Devi Bajoria (PAN: ADVPB0868R)
  • The underlying matter relates to SEBI’s enforcement action against illiquid stock options trading
  • A release order signifies that the recovery proceedings against the individual have concluded, either through payment of dues or other legal resolution
  • This is part of SEBI’s broader enforcement initiative against manipulation in illiquid stock options segment

Regulatory Changes

No new regulatory changes are introduced by this order. It is an administrative/enforcement order concluding existing recovery proceedings under SEBI’s recovery certificate mechanism.

Compliance Requirements

  • No new compliance requirements for market participants arise from this order
  • The order is specific to Kamla Devi Bajoria and the resolution of Recovery Certificate No. RC8035 of 2024
  • Any attached assets or bank accounts of the noticee that were frozen pursuant to the recovery certificate are to be released

Important Dates

  • Order Date: March 12, 2026
  • Recovery Certificate No.: RC8035 of 2024 (original certificate issued in 2024)

Impact Assessment

This release order has minimal market impact as it pertains to the conclusion of an individual enforcement/recovery proceeding. It reflects SEBI’s continued enforcement efforts in the illiquid stock options segment, where the regulator had taken action against numerous entities for fraudulent trading practices. The release order indicates successful resolution of the recovery proceedings against Kamla Devi Bajoria, demonstrating the effectiveness of SEBI’s recovery mechanism under the SEBI Act.

Impact Justification

This is an individual enforcement/recovery proceeding release order with no broader market implications. It signals completion of recovery action against a single individual in the illiquid stock options matter.