Description
SEBI announces the completion of Recovery Certificate No. 8977 of 2025 dated December 19, 2025 issued against defaulter Ravinder Kumar Jain (PAN: ABUPJ8211B) in the matter of ISO at BSE.
Summary
SEBI has issued a notice regarding the completion of Recovery Certificate No. 8977 of 2025, dated December 19, 2025, which was issued against Ravinder Kumar Jain (PAN: ABUPJ8211B) as a defaulter in the matter of ISO at BSE. This circular confirms that the recovery proceedings under the said certificate have been concluded.
Key Points
- Recovery Certificate No. 8977 of 2025 dated December 19, 2025 has been completed
- The certificate was issued against Ravinder Kumar Jain, designated as a defaulter
- PAN of the defaulter: ABUPJ8211B
- The matter pertains to ISO at BSE (Bombay Stock Exchange)
- SEBI’s Recovery Officer has recorded the completion of proceedings under this certificate
Regulatory Changes
No new regulatory changes introduced. This circular represents the administrative closure of an existing enforcement action under SEBI’s recovery framework.
Compliance Requirements
No fresh compliance requirements for market participants. This is an enforcement closure document relevant only to the named defaulter and parties to the original proceedings.
Important Dates
- Recovery Certificate originally issued: December 19, 2025
- Recovery Certificate No.: 8977 of 2025
- Completion recorded: May 2026
Impact Assessment
This circular has minimal market impact as it pertains to the administrative completion of recovery proceedings against a specific individual defaulter. It does not affect trading, listing requirements, or broader compliance obligations for market participants. The closure indicates that SEBI has successfully enforced its earlier order in the ISO at BSE matter against Ravinder Kumar Jain.
Impact Justification
Routine administrative closure of a recovery certificate against an individual defaulter; no broader market or systemic impact.