Description
SEBI issued a Notice of Demand under Recovery Certificate No. 9091 of 2026 dated April 28, 2026 against Makwana Dhiru S HUF (PAN: ALHM4560N) in the matter of dealing in illiquid stock options on BSE.
Summary
SEBI has issued a Notice of Demand under Recovery Certificate No. 9091 of 2026 dated April 28, 2026 against Makwana Dhiru S HUF (PAN: ALHM4560N). The notice relates to the entity’s dealing in illiquid stock options on BSE and constitutes a formal demand for recovery of dues determined in prior SEBI proceedings.
Key Points
- Recovery Certificate No. 9091 of 2026 issued on April 28, 2026
- Directed against Makwana Dhiru S HUF (PAN: ALHM4560N)
- Matter pertains to dealing in illiquid stock options on the Bombay Stock Exchange (BSE)
- Notice of Demand issued as part of SEBI’s enforcement and recovery process
- The entity is a Hindu Undivided Family (HUF)
Regulatory Changes
No new regulatory changes introduced. This is an enforcement/recovery action pursuant to existing SEBI recovery proceedings.
Compliance Requirements
- Makwana Dhiru S HUF is required to comply with the demand specified in the Recovery Certificate No. 9091 of 2026
- The defaulter must pay the outstanding dues as determined by SEBI within the prescribed timeframe
- Non-compliance may result in further enforcement action including attachment of assets
Important Dates
- Recovery Certificate Date: April 28, 2026
- Notice of Demand Date: April 28, 2026
Impact Assessment
This order has limited broader market impact as it is directed against a single entity (Makwana Dhiru S HUF) for past violations related to illiquid stock options trading on BSE. It reflects SEBI’s continued enforcement against participants found to have engaged in manipulative or irregular trading in illiquid derivatives. No systemic risk or broad market implications are anticipated.
Impact Justification
Routine enforcement/recovery action against a specific individual HUF entity for dealing in illiquid stock options; no broad market impact.