SEBI has issued Recovery Certificate No. RC9031 of 2026 under Section 28A of the SEBI Act, 1992 read with the Second Schedule to the Income Tax Act, 1961, against Mountview Barter Pvt. Ltd. (PAN: AAGCM1027L) for recovery of monetary penalty imposed through adjudication proceedings A.P. Nos. 15315 & 15316 of 2026. The certificate pertains to the entity’s involvement in trading in illiquid stock options at BSE, where artificial volumes and non-genuine trades were created.

Key Points

• Recovery Certificate No. RC9031 of 2026 issued against Mountview Barter Pvt. Ltd. (PAN: AAGCM1027L)
• Covers adjudication proceedings A.P. Nos. 15315 & 15316 of 2026
• Matter relates to illiquid stock options segment at BSE
• Certificate issued under Section 28A of the SEBI Act, 1992
• Recovery mechanism invoked due to non-payment of adjudicated penalty
• Certificate forwarded to Tax Recovery Officer / Certificate Officer for enforcement

Regulatory Changes

No new regulatory changes. This is an enforcement action implementing existing penalty orders through the statutory recovery mechanism under the SEBI Act.

Compliance Requirements

• Mountview Barter Pvt. Ltd. is required to pay the outstanding penalty amount plus applicable interest as certified in RC9031 of 2026
• The Tax Recovery Officer is empowered to attach and sell the property of the defaulter to recover the dues
• Non-compliance with the recovery certificate may result in further coercive recovery actions including attachment of bank accounts and properties

Important Dates

• Certificate issued: April 24, 2026
• A.P. Nos. 15315 & 15316 of 2026: Underlying adjudication proceedings in which penalty was originally imposed
• Recovery certificate remains in force until the full amount is recovered

Impact Assessment

This recovery certificate has limited broader market impact as it targets a single private entity (Mountview Barter Pvt. Ltd.) for past violations in the illiquid stock options segment. It forms part of SEBI’s ongoing large-scale enforcement action against entities that created artificial trading volumes in BSE’s illiquid stock options segment. The action reinforces SEBI’s commitment to pursuing recovery even after adjudication, using the statutory tax-recovery mechanism to enforce payment of penalties by non-compliant entities.