The Securities and Exchange Board of India (SEBI) has prohibited SecureKloud Technologies promoters Suresh Venkatachari and R S Ramani from selling, transferring or creating charges over their properties as it steps up recovery proceedings for unpaid penalties of INR 3.87 crore and INR 2.58 crore, respectively.
In separate prohibitory orders dated October 15, 2026, SEBI’s Recovery Officer said the amounts realised from the promoters’ bank accounts were insufficient to recover the dues. The orders were communicated on October 22, according to disclosures made by SecureKloud Technologies to the stock exchanges on October 23.
The recovery proceedings stem from demand notices issued on April 23, 2025. The outstanding amounts are subject to further interest, costs, expenses and other charges.
SEBI had earlier issued attachment orders on March 10, 2026, covering the promoters’ demat accounts, funds, folios, mutual fund holdings and bank accounts, including lockers. In an order dated April 21, 2026, the regulator directed banks to remit available funds to SEBI and mutual funds to redeem units held by the defaulters and remit the proceeds.
As the recoveries from these sources were insufficient, the Recovery Officer invoked Rule 16 and Rule 48 of the Second Schedule to the Income-tax Act, 1961, read with Section 28A of the SEBI Act, 1992, to prohibit dealings in the promoters’ properties.
The orders also prohibit other persons from taking any benefit from the sale, transfer, alienation or creation of charges over the attached properties. The Inspector General of Registration in Tamil Nadu and the concerned district registrars and sub-registrars have been directed to provide details of the properties and not register documents purporting to transfer, mortgage, lease or otherwise create or alter interests in them.
Both promoters have been directed to submit complete details of their movable and immovable properties, along with details of any encumbrances and original title deeds for immovable properties, within two weeks of the respective orders to SEBI’s Southern Regional Office in Chennai.
