SEBI Issues High-Value Demand Notice: Trader Liable for ₹14.92 Lakhs in Delta Leasing & Finance Investigation
The Securities and Exchange Board of India (SEBI) has issued a stringent Notice of Demand against Santosh Kumar, detailing significant financial dues related to the investigation into trading activities concerning Delta Leasing and Finance Ltd. This enforcement action underscores SEBI's continuous commitment to market discipline and recovery proceedings under the SEBI Act.The notice, dated June 10, 2026, certifies that a total sum of ₹14,92,000.00 is due to SEBI from the designated individual. This amount includes accrued interest, various costs, charges, and expenses incurred during the recovery process.
Financial Breakdown of Dues Imposed by SEBI
The total recovery amount has been meticulously broken down based on established penal actions. The largest component is a Penalty imposed by the WTM, amounting to ₹10,50,000.00. This penalty stems from Order No. WTM/AB/IVD/ID14/23301/2022-23 dated January 31, 2023.The remaining dues include interest and administrative costs. A sum of ₹4,41,000.00 represents the calculated interest charged at 1% per month from January 2023 up to June 2026. The recovery cost accounts for the balance amount of ₹1,000.00.
Severe Enforcement Measures Detailed in SEBI Notice
The notice strictly mandates that Santosh Kumar must pay the full specified amount within a timeframe of fifteen days from receiving the document. Failure to meet this demand will trigger immediate and severe enforcement action by the Recovery Officer.SEBI has outlined several stringent recovery modes should payment remain outstanding. These measures include the attachment and subsequent sale of movable property or bank accounts. Furthermore, immovable property can be attached and sold to recover the amount due.
Restrictions and Liability in Ongoing Enforcement Proceedings
The SEBI notice imposes critical restrictions on the defaulter regarding property management. Any transfer of property or monies held in bank accounts to a spouse or minor child is deemed subject to recovery if done without adequate consideration.Additionally, the individual has been formally advised that they are not competent to mortgage, charge, or lease any personal property. Such transactions must be conducted with explicit permission from the Recovery Officer and will otherwise be considered void as per SEBI regulations.
Details of the Demand and Payment Protocol
The demand is issued under Recovery Certificate No. 9152 of 2026. The payment instructions specify multiple acceptable methods, including a demand draft (DD) in favor of the "SEBI Recovery Proceeds" Account payable at Mumbai.Payments can also be made via EFT/NEFT/RTGS to ICICI Bank's designated account or through the online platform on the SEBI website. Confirmation of any e-payment must be promptly forwarded to the designated Recovery Officer’s office in New Delhi.
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