Description

SEBI issues a prohibitory order under Recovery Certificate No. 3982 of 2021 against Siya Ram Agro Industries and two other parties, restraining them from alienating or disposing of assets pending recovery of dues.

Summary

SEBI has issued a prohibitory order under Recovery Certificate No. 3982 of 2021 against Siya Ram Agro Industries and 2 other parties. This order restrains the named entities from alienating, transferring, or disposing of their properties and assets pending the recovery of outstanding dues owed to SEBI.

Key Points

  • Recovery Certificate No. 3982 of 2021 was issued against Siya Ram Agro Industries and 2 others
  • SEBI has invoked its powers under the SEBI Act to enforce the recovery certificate
  • A prohibitory order has been issued restraining the named parties from disposing of or alienating any movable or immovable assets
  • The order is issued as part of SEBI’s enforcement and recovery proceedings mechanism
  • This action follows the standard procedure under the Second Schedule of the Income Tax Act, 1961, as applicable to SEBI recovery proceedings

Regulatory Changes

No new regulatory changes introduced. This is an enforcement order under existing SEBI recovery proceedings framework.

Compliance Requirements

  • Siya Ram Agro Industries and 2 other named parties must not alienate, transfer, encumber, or dispose of any of their properties or assets without prior permission from SEBI
  • Banks and financial institutions holding accounts of the named parties are notified to not allow transactions that would reduce the recoverable amount
  • Any person receiving notice of this order is bound to comply with its directives

Important Dates

  • Recovery Certificate issued: 2021 (RC No. 3982 of 2021)
  • Prohibitory Order date: March 16, 2026
  • Order remains in effect until dues are recovered or SEBI issues a modification/vacation order

Impact Assessment

This order has a limited market impact as it targets specific entities — Siya Ram Agro Industries and two others — involved in SEBI’s recovery proceedings. The prohibitory order is an enforcement tool to preserve assets and ensure recovery of outstanding dues. There is no systemic or broad market implication. Investors and market participants not directly involved are unaffected.

Impact Justification

Routine enforcement action targeting specific non-compliant entities under an existing recovery certificate; no broader market or systemic impact expected.