Description

SEBI announces the completion of Recovery Certificate No. RC9048 of 2026 issued against Manas Taru Roy (PAN: AHEPR6586R) and Binit Agarwal (PAN: AMKPA6931A) in connection with the Illiquid Stock Options matter.

Summary

SEBI has issued a notice confirming the completion of Recovery Certificate No. RC9048 of 2026 against Manas Taru Roy (PAN: AHEPR6586R) and Binit Agarwal (PAN: AMKPA6931A) in the matter of Illiquid Stock Options. This notice signifies that the outstanding dues or penalties imposed on these individuals have been successfully recovered by SEBI.

Key Points

  • Recovery Certificate No. RC9048 of 2026 has been marked as completed.
  • The recovery action was initiated against two individuals: Manas Taru Roy (PAN: AHEPR6586R) and Binit Agarwal (PAN: AMKPA6931A).
  • The matter pertains to the Illiquid Stock Options segment, which has been subject to extensive SEBI enforcement action against market manipulation.
  • Completion of the recovery certificate indicates full or settled recovery of the imposed financial penalties or dues.

Regulatory Changes

No new regulatory changes are introduced by this circular. This is an administrative enforcement closure notice.

Compliance Requirements

No new compliance obligations are imposed on market participants through this notice. The circular is specific to the named individuals and their concluded recovery proceedings.

Important Dates

  • Date of circular: May 2026
  • Recovery Certificate No.: RC9048 of 2026

Impact Assessment

This circular has minimal broader market impact as it is an administrative notice confirming the closure of a specific recovery proceeding. It reflects SEBI’s continued enforcement activity in the Illiquid Stock Options matter, which involved widespread manipulation in the options segment. The completion of this recovery certificate demonstrates SEBI’s effectiveness in pursuing and concluding financial penalties against violators.

Impact Justification

Administrative enforcement notice confirming completion of dues recovery from named individuals in the Illiquid Stock Options matter; no broader market or regulatory policy impact.