Description
SEBI has completed recovery proceedings against Mr. Mahesh Somabhai Desai (PAN: AMGPD0183P) under Recovery Certificate No. 6811 of 2023 issued in the matter of M/s Parichay Investments Limited.
Summary
SEBI has issued an order confirming the completion of recovery proceedings against Mr. Mahesh Somabhai Desai (PAN: AMGPD0183P) under Recovery Certificate No. 6811 of 2023, issued in the matter of M/s Parichay Investments Limited.
Key Points
- Recovery Certificate No. 6811 of 2023 was issued against Mr. Mahesh Somabhai Desai (PAN: AMGPD0183P).
- The recovery proceedings pertain to the matter of M/s Parichay Investments Limited.
- SEBI has declared the recovery proceedings as completed.
- The order closes the enforcement/recovery action against this individual.
Regulatory Changes
No new regulatory changes. This is an administrative closure order for an existing enforcement matter.
Compliance Requirements
No new compliance requirements for the broader market. The order is specific to Mr. Mahesh Somabhai Desai and the concluded recovery action under Recovery Certificate No. 6811 of 2023.
Important Dates
- Order Date: March 27, 2026
- Recovery Certificate: No. 6811 of 2023
Impact Assessment
This order has minimal market impact. It is an administrative closure confirming that dues under Recovery Certificate No. 6811 of 2023 have been recovered or proceedings have otherwise concluded in the matter of M/s Parichay Investments Limited. No systemic or broad market implications are expected.
Impact Justification
This is an administrative order confirming completion of recovery proceedings against a specific individual in a concluded enforcement matter. It has no broader market impact.