Description
SEBI issued a General Remittance Order dated May 18, 2026 under Recovery Certificate No. 9067 of 2026 directing recovery of dues from Paresh Nathalal Chauhan in connection with the matter of Timbor Home Limited.
Summary
SEBI issued a General Remittance Order (GRO) dated May 18, 2026 under Recovery Certificate No. 9067 of 2026 drawn against Paresh Nathalal Chauhan in the matter of Timbor Home Limited. The order instructs banks and financial institutions to remit funds from the defaulter’s accounts directly to SEBI in satisfaction of outstanding dues established under the recovery certificate.
Key Points
- Recovery Certificate (RC) No. 9067 of 2026 issued against Paresh Nathalal Chauhan
- Order pertains to the enforcement matter involving Timbor Home Limited
- Directs remittance of funds held in bank/financial accounts of the named individual to SEBI
- Issued under SEBI’s recovery and enforcement powers
Regulatory Changes
No new regulatory changes. This is an enforcement action implementing an existing recovery certificate.
Compliance Requirements
- Banks and financial institutions holding accounts of Paresh Nathalal Chauhan are directed to remit specified amounts to SEBI upon receipt of this order
- Immediate compliance required upon service of the General Remittance Order
- Non-compliance by banks with such orders may attract regulatory consequences
Important Dates
- Order Date: May 18, 2026
- Recovery Certificate No.: 9067 of 2026
Impact Assessment
This order has no broad market impact. It is a targeted enforcement/recovery action affecting only the named individual (Paresh Nathalal Chauhan) and any banks or financial institutions that hold his accounts. Investors in Timbor Home Limited are not directly affected by this recovery proceeding.
Impact Justification
Individual enforcement/recovery action against a specific person; no broad market impact. Relevant only to the named party and associated accounts.