Description

SEBI issues a prohibitory order under Recovery Certificate No. 1169 of 2017 against Sanjay B Tenginkai in connection with the matter of Sai Multi Services, directing attachment of assets to recover dues.

Summary

SEBI has issued a Prohibitory Order under Recovery Certificate No. 1169 of 2017 against Sanjay B Tenginkai in the matter of Sai Multi Services. This order is part of SEBI’s recovery proceedings to enforce the payment of outstanding dues and penalties as directed in prior orders. The prohibitory order prevents the named party from alienating, transferring, or disposing of assets until the recovery amount is satisfied.

Key Points

  • Prohibitory order issued against Sanjay B Tenginkai under Recovery Certificate No. 1169 of 2017
  • The matter pertains to Sai Multi Services
  • The order prohibits disposal, transfer, or alienation of assets by the named party
  • This is an enforcement action to recover dues arising from prior SEBI adjudication or directions
  • Issued under SEBI’s recovery proceedings mechanism

Regulatory Changes

No new regulatory changes. This is an enforcement/recovery action pursuant to an existing Recovery Certificate (No. 1169 of 2017) issued by SEBI.

Compliance Requirements

  • Sanjay B Tenginkai is prohibited from alienating, disposing of, or transferring any assets or properties until the outstanding recovery amount is paid in full
  • Banks, depositories, and other financial intermediaries may be directed to freeze or hold assets of the named party as per the prohibitory order
  • The named party must comply with the terms of the Recovery Certificate and settle dues to have the order vacated

Important Dates

  • Recovery Certificate No. 1169 issued: 2017
  • Prohibitory Order issued: March 16, 2026

Impact Assessment

This order has a limited market impact as it targets a specific individual (Sanjay B Tenginkai) in connection with Sai Multi Services. It does not affect broader market operations, listed securities, or market participants at large. The action reflects SEBI’s ongoing efforts to enforce recovery of dues from defaulters under its recovery certificate mechanism.

Impact Justification

Routine enforcement/recovery proceeding against a specific individual (Sanjay B Tenginkai) related to Sai Multi Services; no broader market or regulatory policy impact.