Description

SEBI issues a prohibitory order under Recovery Certificate No. 2474 of 2019 against Rabindra Kumar Jena in the matter of Rightmax Technotrade International Ltd., restraining alienation or disposal of assets to recover outstanding dues.

Summary

SEBI has issued a prohibitory order against Rabindra Kumar Jena pursuant to Recovery Certificate No. 2474 of 2019, arising from proceedings in the matter of Rightmax Technotrade International Ltd. The order prohibits the respondent from transferring, alienating, or disposing of any assets or properties until outstanding dues owed to SEBI are recovered in full.

Key Points

  • Prohibitory order issued against Rabindra Kumar Jena under Recovery Certificate No. 2474 of 2019
  • The recovery proceedings relate to the matter of Rightmax Technotrade International Ltd.
  • The order restrains the respondent from transferring, alienating, or otherwise disposing of movable and/or immovable assets
  • Issued by SEBI’s Recovery Officer under the SEBI Act and applicable recovery rules
  • Part of SEBI’s ongoing enforcement action related to illiquid stock options or related violations

Regulatory Changes

No new regulatory changes. This is an enforcement/recovery action under existing SEBI recovery proceedings framework.

Compliance Requirements

  • Rabindra Kumar Jena must not transfer, alienate, encumber, or dispose of any assets or properties without prior permission from SEBI
  • Banks and financial institutions holding accounts of the respondent may be directed to freeze such accounts
  • Any third party with knowledge of this order must comply with its directions

Important Dates

  • Recovery Certificate No.: 2474 of 2019 (original certificate issued in 2019)
  • Order Date: March 12, 2026

Impact Assessment

This order has no broader market impact. It is a targeted individual enforcement action to recover dues from Rabindra Kumar Jena in connection with the Rightmax Technotrade International Ltd. matter. The prohibitory order is a standard step in SEBI’s recovery proceedings to prevent dissipation of assets before dues are collected. Impact is limited solely to the respondent named in the order.

Impact Justification

Routine individual-level prohibitory order under a 2019 recovery certificate; enforcement action against a specific individual with no broader market or systemic impact.