Description

SEBI issues Recovery Certificate No. RC9018 of 2026 under A.P. Nos. 15287 & 15288 of 2026 against Lalita Devi Sureka (PAN: AJAPS4841C) for recovery of penalty imposed in the matter of trading in Illiquid Stock Options on BSE.

Summary

SEBI has issued Recovery Certificate No. RC9018 of 2026 under Application Nos. 15287 & 15288 of 2026 against Lalita Devi Sureka (PAN: AJAPS4841C) for recovery of dues arising from an adjudication/enforcement order in the matter of trading in Illiquid Stock Options on BSE. This notice of demand requires the named individual to pay the outstanding penalty amount to SEBI.

Key Points

  • Recovery Certificate No. RC9018 of 2026 issued against Lalita Devi Sureka (PAN: AJAPS4841C)
  • Arises from A.P. Nos. 15287 & 15288 of 2026 related to the Illiquid Stock Options matter
  • SEBI is invoking recovery proceedings to collect unpaid penalties or disgorgement amounts
  • Part of SEBI’s ongoing enforcement actions against participants in manipulative illiquid stock options trading on BSE
  • The Recovery Certificate enables SEBI to recover dues as arrears of land revenue

Regulatory Changes

No new regulatory changes. This is an enforcement/recovery action under existing SEBI (Recovery of Amounts) Regulations and SEBI Act powers.

Compliance Requirements

  • Lalita Devi Sureka is required to pay the outstanding penalty/disgorgement amount specified in the Recovery Certificate within the stipulated timeframe
  • Failure to comply may result in attachment and sale of assets under SEBI’s recovery powers
  • The named individual should contact SEBI’s recovery department to resolve outstanding dues

Important Dates

  • Recovery Certificate issued: April 2026
  • A.P. Nos. 15287 & 15288 of 2026 reference the underlying appeal/application proceedings
  • Payment deadline: As specified in the RC notice (typically 15–30 days from issuance)

Impact Assessment

This is an individual enforcement action with no broad market impact. It reflects SEBI’s continued pursuit of recovery of penalties from individuals found to have participated in manipulative trading in illiquid stock options on BSE — a long-running enforcement campaign. General investors and market participants are not affected. Impact is confined to the named individual.

Impact Justification

Individual enforcement action for recovery of penalty in illiquid stock options matter; limited broader market impact but significant for the named individual