Description
SEBI issued a Certificate of Completion dated March 25, 2026 under RC No. 4655 of 2022 drawn against Mahesh Somabhai Desai in the matter of Timbor Home Limited, confirming completion of recovery proceedings.
Summary
SEBI issued a Certificate of Completion dated March 25, 2026 under Recovery Certificate (RC) No. 4655 of 2022, drawn against Mahesh Somabhai Desai in the matter of Timbor Home Limited. This certificate formally records that the recovery proceedings initiated under the said RC have been completed.
Key Points
- Recovery Certificate No. 4655 of 2022 issued against Mahesh Somabhai Desai in the matter of Timbor Home Limited has been fully executed.
- SEBI has issued this Certificate of Completion on March 25, 2026 to formally close the recovery proceedings.
- The certificate is issued in conjunction with a Release Order (also dated March 25, 2026) under the same RC No. 4655 of 2022.
- Timbor Home Limited is the underlying matter in which the original SEBI enforcement/penalty order was passed.
Regulatory Changes
No new regulatory changes. This is an administrative closure document confirming execution of an existing recovery order.
Compliance Requirements
- No further compliance obligations arise from this certificate for Mahesh Somabhai Desai under RC No. 4655 of 2022.
- The recovery proceedings are formally concluded.
Important Dates
- Recovery Certificate No.: 4655 of 2022
- Certificate of Completion Date: March 25, 2026
- Related Release Order Date: March 25, 2026
Impact Assessment
This document has no market-wide impact. It is a routine enforcement closure document confirming that SEBI’s recovery action against an individual (Mahesh Somabhai Desai) in the matter of Timbor Home Limited has been fully executed. Investors and market participants are not affected.
Impact Justification
Routine administrative certificate confirming completion of recovery proceedings under an existing recovery certificate; no new regulatory requirements or market-wide implications.