Description

SEBI issued a General Remittance Order dated April 21, 2026 under Recovery Certificate No. 4397 of 2021 against Kesava Mallikarjuna Prasad Chivukula (PAN: ADCPC3929K) for recovery of dues in the matter of the GDR issue of CAT Technologies Limited.

Summary

SEBI issued a General Remittance Order (GRO) dated April 21, 2026, under Recovery Certificate (RC) No. 4397 of 2021, directing recovery of outstanding dues from Kesava Mallikarjuna Prasad Chivukula (PAN: ADCPC3929K). The order arises from proceedings in the matter of the Global Depositary Receipt (GDR) issue of CAT Technologies Limited.

Key Points

  • Order Type: General Remittance Order under Recovery Certificate No. 4397 of 2021
  • Date of Order: April 21, 2026
  • Respondent: Kesava Mallikarjuna Prasad Chivukula (PAN: ADCPC3929K)
  • Underlying Matter: GDR issue of CAT Technologies Limited
  • Purpose: Recovery of dues/penalties as directed under the RC issued in 2021
  • A General Remittance Order is issued by SEBI to enforce recovery of unpaid penalties or disgorgement amounts through government revenue recovery channels.

Regulatory Changes

No new regulatory changes are introduced. This order is a procedural enforcement step under existing SEBI recovery mechanisms, invoking the Recovery Certificate issued in 2021.

Compliance Requirements

  • The named individual (Kesava Mallikarjuna Prasad Chivukula) is required to remit the dues specified under RC No. 4397 of 2021.
  • Non-compliance with a General Remittance Order may result in further coercive recovery action by government authorities.
  • No compliance obligations arise for any third parties, brokers, or market participants.

Important Dates

  • April 21, 2026: Date of the General Remittance Order
  • 2021: Year of the original Recovery Certificate (RC No. 4397 of 2021)

Impact Assessment

This order has no direct market-wide impact. It is a routine enforcement and recovery action targeted solely at a named individual in connection with a historical GDR issue of CAT Technologies Limited. General Remittance Orders are issued when prior recovery steps have not resulted in payment, and they authorise recovery through government machinery. The broader market, investors, or current market participants in CAT Technologies Limited are not directly affected by this order.

Impact Justification

This is a targeted enforcement/recovery action against a specific individual in connection with a legacy GDR matter. It has no broad market or regulatory policy implications; impact is limited to the named respondent.