SEBI Completes Recovery Certificate for Pressure Sensitive Systems Stakeholders After Full Payment
SEBI Issues Order on Compliance of Recovery Certificate No. 8841 of 2025
The Securities and Exchange Board of India (SEBI) has formally released an order concerning the completion of Recovery Certificate No. 8841 of 2025. This significant compliance action addresses a matter involving Pressure Sensitive Systems (India) Limited. The order confirms the successful conclusion of the recovery process against two individuals.The certificate pertains to Purav Bharatbhai Patel and Hansaben Bharatkumar Patel, who are associated with the aforementioned company. The completion signifies that all obligations tied to this specific Recovery Certificate have been met in accordance with SEBI regulations.
Details of Outstanding Liability Settled
The Recovery Certificate was issued against a specified sum owed to the authority. Purav Bharatbhai Patel and Hansaben Bharatkumar Patel were liable for Rs. 1,13,27,945/- (Rupees One Crore Thirteen Lakhs Twenty-Seven Thousands Nine Hundred Forty-Five Only). This amount was coupled with further interest, along with all costs, charges, and expenses incurred during the process.The recovery action stemmed from directions issued by a Quasi-Judicial Authority under Order No. QJA/GR/IVD-3/ID 1/31180/2024-25. These original instructions were dated January 31, 2025, and related to the matters of Pressure Sensitive Systems (India) Limited.
Significance of Recovery Certificate Completion
The order explicitly states that the certificate is being completed in exercise of powers under sub-section (1) of Section 28A of the Securities and Exchange Board of India Act, 1992. This action aligns with various provisions, including section 224 and rule 12 of the Second Schedule to the Income-tax Act, 1961.The completion is directly due to the full payment of the outstanding amount specified under the Recovery Certificate. This successful settlement concludes a significant enforcement matter previously handled by SEBI.
Regulatory Action Directed by SEBI Authorities
This regulatory document was processed and issued by the Recovery Officer stationed at the Western Regional Office in Ahmedabad. The formal designation confirmed on the order is that of R/ Balbir Singh, functioning as Deputy General Manager of the Securities and Exchange Board of India.The completion serves as a final record detailing the satisfaction of the liability originally sought through the recovery process. This orderly closure emphasizes SEBI's procedural adherence in matters of financial compliance and debt resolution related to listed entities.
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.