SEBI Issues Notice of Demand for Recovery of Dues Related to Illiquid Stock Option at BSE
SEBI issued a Notice of Demand on April 7, 2026, concerning Recovery Certificate No. 9079 of 2026, addressed to Anil N. Pacholi, holding Pan No. BWCPP6583Q. The notice pertains to proceedings related to Illiquid Stock Option (ISO) at the BSE.The demand specifies a total sum of Rs.5,16,000/- (Rupees Five Lakhs and Sixteen Thousand Only) owed to SEBI, excluding future interest, costs, charges, and expenses incurred during the recovery process.
The breakdown of the dues detailed in the notice is as follows:
| Description of Dues | Amount (In Rupees) |
|---|---|
| Penalty imposed on Anil Pacholi (BWCPP6583Q) by the Adjudicating officer vide Order No. Order/JS/RJ/2025-26/32017 dated February 02 2026 in the matter of Illiquid Stock Option (ISO) at BSE. | 5,00,000.00 |
| Interest from February 2026 to April 2026 @ 1% p.m. | 15,000.00 |
| Recovery cost | 1,000.00 |
| Total | 5,16,000.00 |
Anil N. Pacholi is directed to remit the stated sum of Rs.5,16,000/-, along with any further interest, all costs, charges, and expenses, within fifteen days of receiving the notice. Payment must be made via direct credit through EFT/NEFT/RTGS to Alc No. SEBIRRDPEN9079 of ICICI Bank, IFSC code - ICIC0000106, or through the specified online payment portals.
Failure to make the payment by the stipulated time will result in recovery being executed according to the provisions outlined in the Income-tax Act, 1961, and the Securities and Exchange Board of India Act, 1992.
The notice also detailed methods by which SEBI reserves the right to recover the money in case of non-payment. These modes include:
- Attachment and sale of movable property.
- Attachment of bank accounts.
- Attachment and sale of immovable property.
- Arrest and detention in prison.
- Appointing a receiver for the management of movable and immovable properties.
Furthermore, the notice advised that any direct or indirect transfer of property or monies held in bank accounts to a spouse or minor child or son's wife or son's minor child, otherwise than for adequate consideration, on or after May 31, 2023, shall be deemed property or money for the purpose of recovery. The notice also noted that the recipient is not competent to mortgage, charge, lease, or otherwise deal with any property without the permission of the Recovery Officer, and any such transfer would be deemed void.
The total liability remains subject to further interest, costs, charges, and expenses incurred during the recovery proceedings against Anil N. Pacholi.
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