Description

SEBI issues a release order for attached assets of Kamlesh Agrawal under Recovery Certificate No. 8103 of 2024 dated September 30, 2024, following settlement of dues in the matter of dealings in Illiquid Stock Options at BSE.

Summary

SEBI has issued a Release Order directing the release of attached assets (bank accounts and/or demat accounts) of Kamlesh Agrawal (Defaulter, PAN: AFUPA7917B) that were attached under Recovery Certificate No. 8103 of 2024 dated September 30, 2024. The release follows the cancellation of the recovery certificate, indicating that the outstanding dues or penalty amount in the matter of dealings in Illiquid Stock Options at BSE have been fully recovered or the matter has been otherwise resolved.

Key Points

  • SEBI directs release of attached assets of Kamlesh Agrawal (PAN: AFUPA7917B)
  • Release pertains to attachments made under Recovery Certificate No. 8103 of 2024 (dated September 30, 2024)
  • The underlying matter involves dealings in Illiquid Stock Options at BSE
  • This release order is issued in conjunction with the cancellation of Recovery Certificate No. 8103 of 2024
  • The release signifies full recovery of dues or closure of enforcement proceedings against the defaulter
  • Order issued on March 18, 2026

Regulatory Changes

No new regulatory changes are introduced. This is an administrative enforcement closure order specific to the named defaulter.

Compliance Requirements

No new compliance obligations for general market participants. Financial institutions, banks, or depositories holding attached assets of Kamlesh Agrawal under the referenced recovery certificate are directed to release those attachments in accordance with this order.

Important Dates

  • September 30, 2024: Original date of Recovery Certificate No. 8103 of 2024
  • March 18, 2026: Date of Release Order issued by SEBI

Impact Assessment

This order has no broader market or regulatory impact. It is an administrative action limited to the named defaulter (Kamlesh Agrawal) and closes the attachment proceedings under Recovery Certificate No. 8103 of 2024. The release of attached assets is a routine enforcement closure step following settlement of dues and does not affect other market participants or trading regulations related to stock options at BSE.

Impact Justification

Administrative closure releasing attached assets of a named individual defaulter following satisfaction of recovery dues. No broader market impact.