Description

SEBI issues Notice of Demand under Recovery Certificate No. RC9085 of 2026 against Arrowlink Chemical Private Limited (PAN: AAKCA1933D) for recovery of dues arising from enforcement action in the Illiquid Stock Options matter on BSE.

Summary

SEBI has issued a Notice of Demand under Recovery Certificate No. RC9085 of 2026 against Arrowlink Chemical Private Limited (PAN: AAKCA1933D). This action is part of SEBI’s ongoing enforcement and recovery proceedings in the Illiquid Stock Options matter on BSE. The Notice of Demand formally directs the entity to pay outstanding dues arising from a prior SEBI enforcement order. Failure to comply with this demand is likely to result in escalated recovery action, including attachment proceedings against the entity’s movable and immovable properties under Section 28A of the SEBI Act, 1992.

Key Points

  • Notice of Demand issued under Recovery Certificate No. RC9085 of 2026
  • Proceedings against Arrowlink Chemical Private Limited (PAN: AAKCA1933D)
  • Part of SEBI’s broader enforcement action in the Illiquid Stock Options manipulation matter on BSE
  • Issued under Section 28A of the SEBI Act, 1992, which empowers SEBI to recover dues as arrears of land revenue
  • Notice of Demand is the formal first step in the recovery process, preceding attachment proceedings
  • Non-compliance will lead to escalation to attachment and forced sale of assets

Regulatory Changes

No new regulatory changes introduced. This is an enforcement and recovery action pursuant to an existing SEBI order in the Illiquid Stock Options matter.

Compliance Requirements

  • Arrowlink Chemical Private Limited must pay the outstanding dues specified under Recovery Certificate No. RC9085 of 2026 within the stipulated time
  • The entity must respond to and comply with the Notice of Demand to avoid escalation to attachment proceedings
  • Failure to pay will result in SEBI initiating attachment proceedings to attach and sell the entity’s movable and/or immovable properties
  • The entity must comply with the original SEBI enforcement order that gave rise to this recovery action

Important Dates

  • April 10, 2026: Notice of Demand issued under Certificate No. RC9085 of 2026
  • Non-compliance will trigger attachment proceedings (A.P.) as the next step in the recovery process

Impact Assessment

This Notice of Demand has minimal broader market or investor impact. It is a targeted enforcement action against a single private entity — Arrowlink Chemical Private Limited — that has outstanding dues from SEBI’s Illiquid Stock Options enforcement action on BSE. The Illiquid Stock Options enforcement has been one of SEBI’s major initiatives targeting manipulation of BSE’s illiquid options segment. This Notice of Demand is the formal first step in the recovery escalation ladder. Market participants and investors are not directly affected unless they have specific dealings with the named entity.

Impact Justification

Initial recovery enforcement action (Notice of Demand) against a single private entity for non-payment of dues in the illiquid stock options matter; no broad market impact but significant for the named party facing potential asset attachment.