Description
SEBI issued a Notice of Demand dated March 16, 2026 under Recovery Certificate No. 9064 of 2026 against Rajender Singh Chhatwal (PAN: AKDPS8856M) for dealings in illiquid stock options on BSE.
Summary
SEBI issued a Notice of Demand dated March 16, 2026 under Recovery Certificate No. 9064 of 2026 against Rajender Singh Chhatwal (PAN: AKDPS8856M) in connection with dealings in illiquid stock options on BSE. This notice is part of SEBI’s ongoing enforcement actions to recover dues from individuals found to have engaged in manipulative or fraudulent trading in illiquid stock options.
Key Points
- Recovery Certificate No. 9064 of 2026 issued against Rajender Singh Chhatwal (PAN: AKDPS8856M)
- Notice of Demand dated March 16, 2026
- Matter relates to dealings in illiquid stock options on BSE
- Part of SEBI’s enforcement and recovery proceedings
Regulatory Changes
No new regulatory changes introduced. This is an enforcement/recovery action under existing SEBI regulations.
Compliance Requirements
- The named individual (Rajender Singh Chhatwal) is required to pay the demanded amount as specified in the Recovery Certificate
- Non-compliance may result in further enforcement actions including attachment of assets
Important Dates
- Notice of Demand Date: March 16, 2026
- Recovery Certificate No.: 9064 of 2026
Impact Assessment
This is an individual enforcement action with no direct impact on broader markets or other market participants. It reflects SEBI’s continued efforts to recover penalties from entities involved in illiquid stock options manipulation on BSE. No systemic or market-wide impact expected.
Impact Justification
Individual enforcement action against a single person for illiquid stock options dealings on BSE; no broader market or regulatory policy impact.