Description
SEBI has issued a prohibitory order against Hari Krishna Yannam under Recovery Certificate No. 2330 of 2019 in the matter of Clutch Auto Ltd, restraining disposal of assets to recover outstanding dues.
Summary
SEBI has issued a prohibitory order against Hari Krishna Yannam in connection with Recovery Certificate No. 2330 of 2019. The order arises from SEBI enforcement proceedings in the matter of Clutch Auto Ltd. A prohibitory order restrains the defaulter from transferring, alienating, or disposing of assets until outstanding dues are recovered by SEBI.
Key Points
- Prohibitory order issued against Hari Krishna Yannam by SEBI’s Recovery Officer
- Relates to Recovery Certificate No. 2330 of 2019
- Arises from SEBI enforcement proceedings in the matter of Clutch Auto Ltd
- Order prohibits the defaulter from disposing of or encumbering assets pending recovery of dues
- Issued under SEBI’s recovery proceedings powers under the SEBI Act
Regulatory Changes
No new regulatory changes. This is an enforcement/recovery action under existing SEBI recovery proceedings framework.
Compliance Requirements
- Hari Krishna Yannam is required to comply with the prohibitory order and must not transfer, alienate, or dispose of any assets without SEBI’s permission
- Banks and financial institutions holding assets of the defaulter may be directed to freeze/hold such assets
- Third parties dealing with the defaulter’s assets are on notice of the prohibitory order
Important Dates
- Order date: March 16, 2026
- Recovery Certificate issued: 2019 (Certificate No. 2330)
Impact Assessment
This order has no broad market impact. It is a targeted enforcement action against a specific individual (Hari Krishna Yannam) to facilitate recovery of SEBI-imposed dues arising from violations related to Clutch Auto Ltd. The prohibitory order is a standard SEBI recovery tool to prevent asset dissipation by defaulters. Impact is limited to the named individual and any connected entities.
Impact Justification
Enforcement/recovery action targeting a specific individual defaulter; no market-wide regulatory change. Limited impact beyond the named party.