Ratan-Chand-Bhurat - Stock Market Circularshttps://rhnvrm.github.io/stock-market-circulars/tags/ratan-chand-bhurat/Regulatory circulars from NSE, BSE, and SEBI with AI-powered summariesHugo -- gohugo.ioen-usFri, 24 Apr 2026 00:00:00 +0000Recovery Certificate RC9015 of 2026 - Attachment Proceedings Against Ratan Chand Bhurat in Illiquid Stock Options Matterhttps://rhnvrm.github.io/stock-market-circulars/circulars/sebi/2026/sebi-2026-04-24-d07e5d272738379f-certificate-no-rc9015-of-2026_-ap-nos-15297-15298-of-2026-in-respect-of-ratan-ch/Fri, 24 Apr 2026 00:00:00 +0530https://rhnvrm.github.io/stock-market-circulars/circulars/sebi/2026/sebi-2026-04-24-d07e5d272738379f-certificate-no-rc9015-of-2026_-ap-nos-15297-15298-of-2026-in-respect-of-ratan-ch/SEBI initiates Attachment Proceedings (A.P. Nos. 15297 & 15298 of 2026) under Recovery Certificate No. RC9015 of 2026 against Ratan Chand Bhurat (PAN: ADPPB9571M) for penalty recovery in the Illiquid Stock Options matter.sebicompliancelowhighmediumd07e5d272738379fhttps://www.sebi.gov.in/sebi_data/attachdocs/apr-2026/1777261951223.pdfrecovery-certificateattachment-proceedingsilliquid-stock-optionsenforcementpenalty-recoveryratan-chand-bhuratSummary

SEBI has issued Recovery Certificate No. RC9015 of 2026 and initiated Attachment Proceedings bearing A.P. Nos. 15297 & 15298 of 2026 against Ratan Chand Bhurat (PAN: ADPPB9571M) in connection with the Illiquid Stock Options matter. This order follows an earlier Notice of Demand under the same recovery certificate, and represents an escalation of enforcement proceedings to recover unpaid penalties through attachment of assets.

Key Points

  • Recovery Certificate No. RC9015 of 2026 issued against Ratan Chand Bhurat (PAN: ADPPB9571M)
  • Attachment Proceedings A.P. Nos. 15297 & 15298 of 2026 initiated
  • Proceedings relate to the Illiquid Stock Options enforcement matter
  • This is a follow-up action after the prior Notice of Demand under the recovery certificate
  • SEBI is pursuing recovery of dues/penalties through attachment of assets

Regulatory Changes

No new regulatory changes. This is an individual enforcement and recovery action under SEBI’s existing powers to recover penalties through attachment proceedings.

Compliance Requirements

  • Ratan Chand Bhurat is required to comply with the recovery certificate and settle outstanding dues
  • Any assets subject to attachment are frozen pending recovery of amounts owed to SEBI
  • Financial institutions and depositories may be directed to freeze/attach assets of the named individual
  • Non-compliance may result in further enforcement measures

Important Dates

  • Date of Order: April 24, 2026
  • A.P. Nos. 15297 & 15298 of 2026 filed under Recovery Certificate RC9015 of 2026

Impact Assessment

This order has a targeted impact limited to the named individual, Ratan Chand Bhurat. It forms part of SEBI’s broader enforcement campaign against participants in the Illiquid Stock Options segment who were found to have engaged in manipulative or fraudulent trading practices. The escalation to Attachment Proceedings indicates non-compliance with the earlier demand. There is no direct market-wide impact; however, continued enforcement actions in this matter signal SEBI’s sustained commitment to recovering penalties from all violators identified in the Illiquid Stock Options case.

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