Description

SEBI has issued a Notice of Demand dated May 05, 2026 against Nilesh Pramodbhai Shah (HUF) as a defaulter in the matter of trading in Illiquid Stock Options on BSE, under Recovery Certificate No. 9101 of 2026.

Summary

SEBI has issued a Notice of Demand dated May 05, 2026 against Nilesh Pramodbhai Shah (HUF), classified as a defaulter, in connection with trading in Illiquid Stock Options on the BSE. The notice is issued under Recovery Certificate No. 9101 of 2026, directing recovery of dues from the defaulting entity.

Key Points

  • Notice of Demand issued against Nilesh Pramodbhai Shah (HUF) as a named defaulter
  • Pertains to trading in Illiquid Stock Options on BSE
  • Issued under Recovery Certificate No. 9101 of 2026
  • Dated May 05, 2026
  • The entity is designated as a defaulter by SEBI

Regulatory Changes

No new regulatory changes are introduced. This is an individual enforcement and recovery action under SEBI’s existing powers to recover dues from defaulters pursuant to earlier adjudication/recovery certificate proceedings.

Compliance Requirements

  • Nilesh Pramodbhai Shah (HUF) is required to comply with the Notice of Demand and pay the dues specified under Recovery Certificate No. 9101 of 2026
  • The defaulter must settle outstanding amounts within the timeframe stipulated in the notice
  • Non-compliance may attract further recovery proceedings including attachment of assets

Important Dates

  • Notice of Demand date: May 05, 2026
  • Recovery Certificate No.: 9101 of 2026

Impact Assessment

This is an individual enforcement action with no direct impact on broader markets or other market participants. It reflects SEBI’s continued pursuit of recovery actions against entities found to have traded in illiquid stock options on BSE, which was a widespread enforcement campaign. The impact is confined to the named defaulter (Nilesh Pramodbhai Shah HUF).

Impact Justification

Individual enforcement action against a specific defaulter (HUF) for illiquid stock options violations on BSE; no broader market or systemic impact expected.