Description
SEBI issues General Remittance Order under Recovery Certificate No. 9057 of 2026 against Prijesh A. Kurani, Ashish P. Shah and Nishil K. Malde in the matter of Svarnim Trade Udyog Limited.
Summary
SEBI has issued a General Remittance Order dated April 29, 2026, under Recovery Certificate No. 9057 of 2026 against Prijesh A. Kurani, Ashish P. Shah, and Nishil K. Malde. This order is part of ongoing recovery proceedings in the matter of Svarnim Trade Udyog Limited.
Key Points
- Recovery Certificate No. 9057 of 2026 issued against Prijesh A. Kurani, Ashish P. Shah, and Nishil K. Malde
- Order date: April 29, 2026
- Case pertains to the matter of Svarnim Trade Udyog Limited
- Three individuals named as respondents in the recovery proceedings
- Enforcement action under SEBI’s recovery and restitution framework
Regulatory Changes
No new regulatory changes introduced. This is an enforcement and recovery action under existing SEBI regulations and the Securities and Exchange Board of India Act.
Compliance Requirements
This order is specific to Prijesh A. Kurani, Ashish P. Shah, and Nishil K. Malde and pertains to recovery of dues arising from violations in the matter of Svarnim Trade Udyog Limited. The named individuals are required to comply with the remittance directions specified in the order.
Important Dates
- Order Date: April 29, 2026
- Recovery Certificate No.: 9057 of 2026
Impact Assessment
This is an entity-specific enforcement action targeting three individuals — Prijesh A. Kurani, Ashish P. Shah, and Nishil K. Malde — in connection with Svarnim Trade Udyog Limited. It has no direct market-wide implications and is part of SEBI’s broader enforcement and recovery mechanism. Impact is limited to the specific individuals named in the recovery proceedings.
Impact Justification
Entity-specific recovery proceeding against three individuals in the matter of Svarnim Trade Udyog Limited with limited market-wide impact