SEBI Demands ₹3.61 Lakh from Individual Over DU Digital Trading Irregularities; Penalties Include Asset Seizure Risk
The Securities and Exchange Board of India (SEBI) has issued a formal Notice of Demand against Dhaval Girishbhai Parmar regarding the trading activities associated with DU Digital Technologies Limited, now known as DU Digital Global Limited. The regulatory action mandates repayment of a substantial sum relating to disgorgement, interest, and recovery costs.The notice, dated July 2, 2026, specifies that Dhaval Girishbhai Parmar is liable for a total amount of ₹3,61,684.70. This action stems from an Order issued by the Quasi-Judicial Authority (QJA) on December 31, 2025.
Breakdown of Financial Penalties Issued by SEBI
The total demand comprises three key components related to the past trading activities in the specified scrip. The primary component is the disgorgement amount, which was ordered by the QJA and stands at ₹3,37,088.50.A significant portion of the demand relates to accrued interest, calculated from January 2026 to July 2026 at a rate of 12% per annum, amounting to ₹23,596.20. The notice also includes standard recovery costs totaling ₹1,000.00, bringing the overall liability to the stated figure.
SEBI’s Stance on Non-Compliance and Recovery Proceedings
The notice sets a strict 15-day deadline for payment via EFT, NEFT, RTGS, or through the official SEBI online portal. Failure to comply with this demand will initiate severe recovery proceedings by the appointed Recovery Officer.In the event of non-payment, SEBI reserves all rights to recover the money using multiple stringent measures. These methods include the attachment and sale of both movable and immovable property belonging to the individual.
Furthermore, the proceedings granted to SEBI empower it with measures such as the arrest and detention in prison, or appointing a receiver for the management of any properties owned by the debtor.
Asset Restrictions Imposed Under Regulatory Action
The regulatory action places immediate limitations on the ability of Dhaval Girishbhai Parmar to transact concerning their assets. It is explicitly advised that the individual is not competent to mortgage, charge, lease or otherwise deal with any personal property.Any such transfer without receiving prior permission from the Recovery Officer will be deemed void as per Rule 16 of the Second Schedule to the Income-tax Act, 1961 read with Section 28A of the SEBI Act. This measure aims to ensure that assets are protected for regulatory recovery purposes.
The notice emphasizes compliance and requires the individual to take all necessary steps to confirm any e-payments made, ensuring proper accounting toward their due amount. The case is being overseen by Deputy General Manager and Recovery Officer DEEPU ANANDAN.
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