SEBI has issued Notice of Attachment of Demat Accounts (Notice No. 15337 of 2026) dated May 05, 2026, against Arvind Poddar (PAN: AODPA6026K) as a defaulter in the matter of the IPO of Shilpi Cable Technologies Ltd. The attachment is being carried out under Recovery Certificate No. 6728 of 2023, which authorizes SEBI to recover dues from the defaulter.

Key Points

• Notice of Attachment of Demat Accounts No. 15337 of 2026 issued on May 05, 2026
• Defaulter: Arvind Poddar, PAN: AODPA6026K
• Matter: IPO of Shilpi Cable Technologies Ltd
• Issued under Recovery Certificate No. 6728 of 2023
• Action involves attachment of demat accounts held by the defaulter
• SEBI is exercising its recovery powers under the SEBI Act and Recovery of Dues Regulations

Regulatory Changes

No new regulatory changes. This is an enforcement action pursuant to an existing Recovery Certificate (No. 6728 of 2023) issued by SEBI under the Securities and Exchange Board of India Act, 1992 and the SEBI (Recovery of Dues from Defaulters) Regulations, 2013.

Compliance Requirements

• Depositories (NSDL/CDSL) and depository participants are required to freeze/attach the demat accounts of Arvind Poddar as directed
• No transfers, withdrawals, or dealings in the attached demat accounts are permitted until further orders
• Any person or entity holding demat accounts on behalf of the defaulter must comply with the attachment order

Important Dates

• Recovery Certificate No. 6728 of 2023: Original certificate issued in 2023
• Notice Date: May 05, 2026
• Notice Number: 15337 of 2026

Impact Assessment

This action is limited in scope and affects only the individual defaulter, Arvind Poddar, and their demat accounts. It has no broader market impact. The attachment is part of SEBI’s ongoing enforcement and recovery proceedings against persons who failed to comply with earlier orders in the matter of the IPO of Shilpi Cable Technologies Ltd. Shilpi Cable Technologies Ltd was a company whose IPO raised concerns, leading to SEBI enforcement actions and subsequent recovery proceedings against various persons involved.