Description

SEBI issues Notice of Demand under Recovery Certificate No. RC9088 of 2026 against Ramesh Kumar Deosaria (PAN: AIBPD5871D) for non-payment of penalty imposed in the matter of Illiquid Stock Options.

Summary

SEBI has issued a Notice of Demand under Recovery Certificate No. RC9088 of 2026 dated April 20, 2026, against Ramesh Kumar Deosaria (PAN: AIBPD5871D) in connection with the matter of Illiquid Stock Options. This notice is issued pursuant to an adjudication order in which a monetary penalty was imposed on the individual, which remains unpaid, necessitating recovery proceedings under SEBI’s enforcement powers.

Key Points

  • Recovery Certificate No. RC9088 of 2026 issued against Ramesh Kumar Deosaria (PAN: AIBPD5871D)
  • The matter pertains to violations in Illiquid Stock Options segment
  • Notice of Demand issued following non-payment of penalty imposed via adjudication order
  • SEBI is exercising its recovery powers under the SEBI Act to collect the outstanding dues
  • This is part of SEBI’s broader enforcement action against entities involved in illiquid stock options manipulation

Regulatory Changes

No new regulatory changes are introduced by this document. It is an enforcement/recovery action under existing SEBI powers to recover monetary penalties from non-compliant entities.

Compliance Requirements

  • Ramesh Kumar Deosaria is required to pay the outstanding penalty amount as specified in the Recovery Certificate
  • Payment must be made to SEBI within the stipulated period mentioned in the notice
  • Failure to comply may result in further enforcement actions including attachment of assets and legal proceedings under the SEBI Act

Important Dates

  • Recovery Certificate Date: April 20, 2026 (RC9088 of 2026)
  • Notice of Demand Issued: April 20, 2026

Impact Assessment

This notice has no direct market-wide impact. It represents SEBI’s routine enforcement and recovery proceedings targeting individuals penalized for participating in the illiquid stock options manipulation scheme. SEBI has been systematically pursuing recovery actions against a large number of entities involved in these cases. The action reinforces SEBI’s commitment to ensuring compliance with its adjudication orders and recovering penalties from defaulting entities.

Impact Justification

This is an enforcement/recovery action against a specific individual for non-payment of penalty in the illiquid stock options matter. It has no broader market impact but reflects SEBI's continued enforcement in the illiquid stock options manipulation cases.