Trader Faces Severe SEBI Demand: ₹2.13 Lakh Recovery Order Issued Over ANI Integrated Services Trading Activity

Trader Faces Severe SEBI Demand: ₹2.13 Lakh Recovery Order Issued Over ANI Integrated Services Trading Activity​

The Securities and Exchange Board of India (SEBI) has issued a formal Notice of Demand against Jigar Bhailalbhai Khalash regarding alleged irregularities in trading activities involving ANI Integrated Services Limited scrip. The regulatory action signifies the Board's commitment to maintaining market integrity and enforcing compliance among market participants. This notice details a financial penalty structure totaling ₹2,13,000/- which must be settled within 15 days of receipt.

Breakdown of SEBI Recovery Dues Against Trader​

The Notice of Demand, dated July 20, 2026, specifies the detailed financial liabilities incurred by Mr. Khalash pertaining to the trading activities. The total outstanding amount is ₹2,13,000/- and comprises three key components: the imposed penalty, interest charges, and recovery costs.

The primary component of the debt is a Penalty imposed by the Adjudicating Officer. This penalty alone stands at ₹2,00,000.00, as mandated by an Order dated February 12, 2026. Furthermore, interest charges amounting to ₹12,000.00 have been calculated on the original liability, covering the period from February 2026 to July 2026 at a rate of 1% p.m.

The remaining component is the Recovery Cost, which amounts to ₹1,000.00. The sum of these three components constitutes the total recovery sought by SEBI, demanding immediate attention from the entity named in the certificate.

Compliance Requirements and Payment Instructions​

SEBI has strictly directed Mr. Khalash to remit the complete outstanding amount within fifteen days. Payments must be made through direct credit via EFT/NEFT/RTGS into A/c No. SEBIRRDPEN9226 of ICICI Bank, or through the official 'Recovery Payment' module on the SI portal website.

The Notice emphasizes that confirmation of e-payment, provided in a specific format detailing transaction numbers and bank particulars, must be promptly forwarded to The Recovery Officer. Failure to provide this necessary documentation means the credit made will not be accounted against the specified dues.

Severe Consequences of Non-Compliance​

The Notice explicitly outlines severe measures that SEBI is prepared to undertake in the event of non-payment. If the due amount is not settled, the Recovery Officer holds the authority to recover the money using multiple methods. These actions include the attachment and subsequent sale of movable property or immovable assets belonging to the defaulter.

In addition to asset seizure, the consequences are further grave. The notice details that arrest and detention in prison remain a potential outcome for non-payment. SEBI has also established stringent restrictions on any attempts by Mr. Khalash to transfer or deal with his properties.

Restrictions Imposed on Property Dealings​

As per Explanation 1 to Section 28A of the SEBI Act, any direct or indirect transfer of property or monies held in bank accounts must be managed with extreme caution. Such transfers made after February 12, 2026, specifically to a spouse or minor child, or a son’s wife or son’s minor child, will be deemed as the defaulter's property for recovery purposes if done without adequate consideration.

The notice serves as an immediate warning that, upon service, Mr. Khalash is not competent to mortgage, charge, lease, or otherwise deal with any of his property unless explicit permission is granted by the Recovery Officer. Any unauthorized transfer would be deemed void under relevant statutes.