Description

SEBI has issued a Notice of Demand under Recovery Certificate No. 9079 of 2026 against Anil N. Pacholi (PAN: BWCPP6583Q) for recovery of dues arising from the Illiquid Stock Options (ISO) manipulation case at BSE.

Summary

SEBI has issued a Notice of Demand under Recovery Certificate No. 9079 of 2026 dated 06.04.2026 against Anil N. Pacholi (PAN No. BWCPP6583Q) in the matter of Illiquid Stock Options (ISO) at BSE. This notice demands payment of outstanding dues as determined in the prior adjudication/enforcement proceedings related to the BSE illiquid stock options manipulation case.

Key Points

  • Notice of Demand issued under Recovery Certificate No. 9079 of 2026
  • Directed against: Anil N. Pacholi (PAN: BWCPP6583Q)
  • Relates to the Illiquid Stock Options (ISO) manipulation matter at BSE
  • SEBI’s Recovery Officer has initiated recovery proceedings pursuant to prior orders
  • Demands payment of penalty/disgorgement amounts as determined in the underlying proceedings

Regulatory Changes

No new regulatory changes. This is an enforcement action under existing SEBI recovery mechanism provisions under the SEBI Act, 1992 and the SEBI (Recovery of Money) Regulations, 2008.

Compliance Requirements

  • The noticee (Anil N. Pacholi) is required to pay the demanded amount as specified in the Recovery Certificate within the stipulated time period
  • Failure to comply may result in attachment of assets, bank accounts, and demat accounts
  • The noticee may file objections before the Recovery Officer if contesting the demand

Important Dates

  • Recovery Certificate Date: 2026 (RC No. 9079 of 2026)
  • Notice of Demand issued: 06 April 2026
  • Payment deadline: As specified in the notice (typically 15-30 days from date of notice)

Impact Assessment

This notice has no broader market impact. It is an individual-level enforcement recovery action against a specific person (Anil N. Pacholi) found to have participated in the BSE Illiquid Stock Options manipulation scheme. SEBI has been systematically pursuing recovery proceedings against all entities involved in the ISO manipulation matter. The action reinforces SEBI’s commitment to enforcing penalties and disgorgement orders arising from market manipulation cases.

Impact Justification

This is an individual-level enforcement recovery notice against Anil N. Pacholi in the BSE ISO manipulation matter. While it reflects serious regulatory enforcement, it has negligible broader market impact and affects only the named individual.