Description

SEBI issued a Notice of Demand under Recovery Certificate No. 9118 of 2026 dated May 18, 2026, to Anjali Agarwal (PAN: AFOPA0585K) for dealing in illiquid stock options on BSE, demanding recovery of dues from the defaulter.

Summary

SEBI issued a Notice of Demand under Recovery Certificate No. 9118 of 2026, dated May 18, 2026, against Anjali Agarwal (PAN: AFOPA0585K) in the matter of dealing in illiquid stock options on BSE. This notice demands recovery of outstanding dues from the defaulter pursuant to a prior SEBI enforcement order.

Key Points

  • Recovery Certificate No. 9118 of 2026 issued on May 18, 2026
  • Defaulter: Anjali Agarwal (PAN: AFOPA0585K)
  • Matter relates to dealing in illiquid stock options on BSE
  • SEBI’s Recovery Officer issued the demand notice under applicable provisions of the SEBI Act
  • The notice demands payment of dues arising from a prior SEBI adjudication or quasi-judicial order
  • Non-compliance may result in attachment and sale of assets of the defaulter

Regulatory Changes

No new regulatory changes. This is an enforcement action under existing SEBI recovery provisions, consistent with SEBI’s ongoing campaign against manipulation of illiquid stock options on BSE.

Compliance Requirements

  • The defaulter (Anjali Agarwal) is required to pay the demanded amount as specified in the Recovery Certificate No. 9118 of 2026
  • Payment must be made to SEBI’s designated account within the stipulated timeframe mentioned in the notice
  • Failure to comply may result in coercive recovery measures including attachment of bank accounts, demat accounts, and immovable property

Important Dates

  • Recovery Certificate Date: May 18, 2026
  • Notice of Demand Date: May 18, 2026
  • Payment deadline: As specified within the demand notice (typically 15–30 days from date of notice)

Impact Assessment

This notice has minimal broader market impact as it is directed at a single individual defaulter. It is part of SEBI’s systematic enforcement drive against participants who manipulated illiquid stock options contracts on BSE. The action signals continued regulatory vigilance in pursuing outstanding recoveries and deterring market manipulation in the derivatives segment.

Impact Justification

This is an individual enforcement/recovery action against a specific defaulter for illiquid stock options manipulation on BSE. High severity from a regulatory compliance standpoint but low broader market impact as it targets a single individual.