Description

SEBI has issued Notice of Attachment of Bank Accounts (Order No. 15340 of 2026) dated May 06, 2026 against Sitaram Jayant (PAN: AXUPJ6002E), a defaulter in the matter of ISO at BSE, under Recovery Certificate No. 9089 of 2026.

Summary

SEBI has issued a Notice of Attachment of Bank Accounts (Order No. 15340 of 2026) dated May 06, 2026 against Sitaram Jayant, identified as a defaulter with PAN AXUPJ6002E, in connection with the matter of ISO at BSE. The attachment is being enforced under Recovery Certificate No. 9089 of 2026 as part of SEBI’s coercive recovery proceedings.

Key Points

  • Notice of Attachment of Bank Accounts issued vide Order No. 15340 of 2026
  • Dated: May 06, 2026
  • Defaulter: Sitaram Jayant, PAN: AXUPJ6002E
  • Matter: ISO (Initial Stock Offering) at BSE - Sitaram Jayant
  • Recovery Certificate No.: 9089 of 2026
  • Action involves attachment of bank accounts held by the defaulter

Regulatory Changes

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

Compliance Requirements

  • Banks holding accounts of Sitaram Jayant (PAN: AXUPJ6002E) are required to freeze/attach the specified accounts and not allow any withdrawals or debits
  • Banks must report the balances in the attached accounts to SEBI’s Recovery Officer
  • Any amounts in the attached accounts are to be remitted to SEBI as directed under the recovery certificate
  • The defaulter is prohibited from operating the attached bank accounts

Important Dates

  • Recovery Certificate No. 9089 of 2026: Issued prior to this notice
  • Notice of Attachment: May 06, 2026 (Order No. 15340 of 2026)

Impact Assessment

This enforcement action has minimal broader market impact as it targets a specific individual defaulter. The attachment of bank accounts is a standard coercive recovery tool used by SEBI to enforce dues payable under recovery certificates. The action signals SEBI’s continued enforcement of recovery proceedings against non-compliant entities and defaulters in the securities market.

Impact Justification

This is a routine SEBI enforcement/recovery action against an individual defaulter (Sitaram Jayant) involving attachment of bank accounts. It has no broad market impact and affects only the named party.