The former is a dumb numbs: The SEBI is gradually experiencing some operations as more ‘hardcore’ dues appear over the last three fiscal years. As per the last annual report, such outstanding dues have risen to ₹76,293 crore in FY24 from ₹73,287 crore in FY23 and ₹67,228 crore in FY22.

SEBI defines dues that could not be collected after using all the collection measures as “hard to collect. ” As of the end of March 31, 2024, SEBI issued the recovery of 6781 certificates of which 3871 hard-to-collect certificates were equal to ₹1. 02 lakh crore—remain pending.

 Of this amount, about 61% is attributed to. From it, 5% or ₹63,206 crore is linked to collective investment schemes and matters relating to PACL and Sahara India Commercial Corporation public issues. Also, ₹95,346 crore of the total sums are claimed under parallel proceedings in different judicial forums and committees as per court orders, which entails making additional efforts to recover the dues.

That SEBI is increasingly confronted with these rising unrecovered dues, highlights some of the major problems associated with the enforcement of financial regulations especially with glamorous actors. The regulator has noted that it is almost impossible to recover such huge amounts, arguing for the need for better measures that would guarantee compliance and investment protection.