Description

SEBI issues a formal Notice of Demand under Recovery Certificate No. RC9103 of 2026 against Ravi Himmatramka and Sons HUF (PAN: AAOHR1118J) for dues arising from the Illiquid Stock Options case.

Summary

SEBI has issued a Notice of Demand under Recovery Certificate No. RC9103 of 2026 against Ravi Himmatramka and Sons HUF (PAN: AAOHR1118J) in connection with the Illiquid Stock Options (ISO) matter. This notice directs the defaulter to pay outstanding dues as determined by SEBI’s adjudicating/recovery authority.

Key Points

  • Recovery Certificate No. RC9103 of 2026 issued against Ravi Himmatramka and Sons HUF
  • PAN of the defaulting entity: AAOHR1118J
  • Proceeding arises from SEBI’s enforcement action in the Illiquid Stock Options segment
  • Notice of Demand is a precursor to attachment and recovery proceedings if dues remain unpaid
  • Part of SEBI’s ongoing recovery drive against entities found to have participated in manipulative trading in BSE’s Illiquid Stock Options segment

Regulatory Changes

No new regulatory changes. This is an enforcement/recovery action under existing SEBI (Recovery of Amounts) Rules and the Securities and Exchange Board of India Act, 1992.

Compliance Requirements

  • Ravi Himmatramka and Sons HUF is required to pay the demanded amount as specified in the Recovery Certificate within the stipulated timeframe
  • Failure to comply may result in attachment of bank accounts, demat accounts, or other assets
  • The entity should respond to SEBI’s Recovery Officer upon receipt of this demand notice

Important Dates

  • Notice Date: May 6, 2026
  • Payment deadline: As specified within the notice (not extractable — PDF is a scanned image without a text layer)

Impact Assessment

This action is limited in scope to a single HUF entity (Ravi Himmatramka and Sons HUF) and has no direct market-wide or systemic impact. It is part of SEBI’s broader, ongoing enforcement sweep against participants in the BSE Illiquid Stock Options manipulation case, which has resulted in hundreds of similar recovery certificates. Investors and market participants not named in this notice are unaffected.

Impact Justification

Routine individual enforcement action under SEBI's Illiquid Stock Options recovery drive; affects a single named HUF entity with no broader market or systemic impact.