SEBI Orders Release of Frozen Assets After Recovering Over ₹40 Lakh from SIC Stocks

SEBI Orders Release of Frozen Assets After Recovering Over ₹40 Lakh from SIC Stocks​

Regulatory Order Facilitates Release of Assets for SIC Stocks​

The Securities and Exchange Board of India (SEBI) has issued a significant directive mandating the release of various financial assets belonging to SIC Stocks and Services Private Ltd. This order confirms the successful completion of a recovery process, marking the full settlement of a substantial outstanding debt.

The order, dated May 18, 2026, formally directs all concerned financial institutions and postal services to lift existing attachment orders. This action covers bank and post office accounts, Demat accounts, and Mutual Fund folios.

Background of the Recovery Proceedings​

The recovery action stemmed from Recovery Certificate No. 6745 of 2023. This certificate had been initially drawn up by the Recovery Officer against SIC Stocks and Services Private Ltd, whose PAN is AAHCS8176P.

The certificate originally encompassed a debt amount of ₹31,51,000/-, along with accrued interest and associated costs. To enforce the recovery, SEBI had previously issued Notices of Attachments under AP No. 10839 and 10840 of 2023, attaching the specified assets of the defaulter.

Full Settlement Achieved, Assets Released​

The primary catalyst for the current order is the successful recovery of funds by SEBI. The authority confirmed the collection of ₹40,98,876/- (Rupees Forty Lakh NinetyEight Thousand Eight Hundred and Seventy-Six only).

This recovered sum is stated to include interest and costs, representing the full and final settlement of the demand raised in the recovery certificate. Consequently, the Recovery Officer has directed all involved parties to immediately release the accounts and folios attached previously.

Key Financial Institutions Directed to Act​

The order specifically targets all key financial and postal entities across India. Affected parties include all major banks, Post Offices, NSDL/CDSL in Mumbai, and all registered Mutual Funds.

The directive ensures that the bank/post office accounts, lockers, Demat accounts, and Mutual Fund folios belonging to SIC Stocks and Services Private Ltd are released, provided they were previously attached under the specified notices.

The issuance of this order reaffirms SEBI’s robust enforcement mechanisms. It confirms that once the stipulated debt is fully recovered, the attached assets are promptly released to the rightful holders, concluding the recovery proceedings for the company.