Description

SEBI has issued a Notice of Demand under Recovery Certificate No. RC8242 of 2024 (A.P. No. 15365 of 2026) against Podium Market Research, a proprietary concern of Suman Kumar (PAN: AMCPK0541Q), to enforce recovery of outstanding dues.

Summary

SEBI has issued a Notice of Demand under Recovery Certificate No. RC8242 of 2024 as part of Application/Petition No. 15365 of 2026 against Podium Market Research (Proprietor: Suman Kumar, PAN: AMCPK0541Q). This document is published under SEBI’s enforcement/recovery-proceedings section and represents a formal demand for payment of outstanding dues owed to SEBI by the named entity.

Key Points

  • Recovery Certificate No. RC8242 of 2024 issued against Podium Market Research
  • Proprietor: Suman Kumar (PAN: AMCPK0541Q)
  • Application/Petition No. 15365 of 2026 filed under the recovery certificate
  • Notice of Demand issued as part of SEBI’s recovery enforcement proceedings
  • This is a recovery-proceedings stage document (distinct from the original order)
  • Action is part of SEBI’s ongoing enforcement against non-compliant market entities

Regulatory Changes

No new regulatory changes. This document is an enforcement instrument issued under SEBI’s existing recovery framework pursuant to the Securities and Exchange Board of India Act, 1992.

Compliance Requirements

  • Podium Market Research and its proprietor Suman Kumar (PAN: AMCPK0541Q) are required to satisfy the outstanding dues as demanded under Recovery Certificate No. RC8242 of 2024
  • The named party must respond to and comply with the Notice of Demand within the prescribed timeframe
  • Failure to comply may result in further coercive enforcement action including attachment and sale of assets

Important Dates

  • Recovery Certificate No. RC8242 issued: 2024
  • Application/Petition No. 15365 filed: 2026
  • Notice of Demand issued: May 2026
  • Document published: May 13, 2026

Impact Assessment

This enforcement action is narrowly scoped and affects only Podium Market Research and its proprietor Suman Kumar. There is no broader market, investor, or systemic impact. The action is consistent with SEBI’s continued pursuit of outstanding penalties and dues from non-compliant entities in the securities market. Market participants and investors are not directly affected by this proceeding.

Impact Justification

This is a targeted SEBI enforcement/recovery action against a single proprietorship entity (Podium Market Research) for non-payment of dues under RC8242/2024. It has no broader market or investor impact beyond the named party.