Sebi recovery rate less than 2% of Rs 99,490 cr claimed since 2013-14

Number of pending notices was up 31% to 2,872 at the end of FY22, from 2,193 the previous year

The Securities and Exchange Board of India (Sebi) saw a decline in the proportion of money it collected as a percentage of the amounts for which it sent out recovery notices.

It has sent out recovery notices worth Rs 99,490.68 crore since 2013-14. The total amount recovered is Rs 1,450 crore or 1.46 per cent of the cumulative amount (chart 1).

The number of pending notices has also been increasing year after year. The figure at the end of FY22 was 2,872, up 31 per cent from 2,193 in the previous year. This could be driven by the increase in the number of notices sent, which came in at 1,181–the highest since 2013-14 (chart 2).  

Recovery was completed in 330 cases, also the highest so far. The number of cancelled recoveries has risen however, having more than doubled in 2021-22 over the previous year (chart 3).

The Sebi annual report noted that nearly two-thirds of the pending amount is because of notices related to PACL and Sahara India Commercial Corporation. Some amounts are also stuck due to parallel proceedings in various courts and court-appointed committees, noted the Sebi annual report.