Description

SEBI issues a prohibitory order under Recovery Certificate No. 1449 of 2018 against Manoj Kumar Saraogi in connection with the matter of Shreeyash Industries Ltd (now known as Nutricircle Limited), directing attachment of assets to recover outstanding dues.

Summary

SEBI has issued a Prohibitory Order under Recovery Certificate No. 1449 of 2018 against Manoj Kumar Saraogi in the matter of Shreeyash Industries Ltd (now known as Nutricircle Limited). 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 Manoj Kumar Saraogi under Recovery Certificate No. 1449 of 2018
  • The matter pertains to Shreeyash Industries Ltd, now known as Nutricircle Limited
  • 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. 1449 of 2018) issued by SEBI.

Compliance Requirements

  • Manoj Kumar Saraogi 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. 1449 issued: 2018
  • Prohibitory Order issued: March 16, 2026

Impact Assessment

This order has a limited market impact as it targets a specific individual (Manoj Kumar Saraogi) in connection with Shreeyash Industries Ltd (now known as Nutricircle Limited). 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 (Manoj Kumar Saraogi) related to Shreeyash Industries Ltd (now Nutricircle Limited); no broader market or regulatory policy impact.