Mumbai: Sebi Wednesday ordered attachment of bank accounts as well as securities demat accounts of six entities to recover penalties of over Rs 20 lakh from them imposed for violations of capital market regulations.
The capital market watchdog has to recover dues amounting to Rs 17.67 lakh from 5 individuals -- K S Ramakrishna, Anitha Karuturi, Sunil Hemdev, Vivek Caroli, C D Vijay.
Besides, another Rs 2.36 lakh of fines have to be recovered from Simply Class Fashions.
The entities were penalised in the matter related to Karuturi Global.
In separate attachment orders today, the Securities and Exchange Board of India (Sebi) asked banks to attach all accounts including lockers held by the entities.
Similarly, the regulator has directed depositories - NSDL and CDSL -- to attach all demat accounts of the defaulters.
Sebi told the banks and the depositories that there was "sufficient reason" to believe that defaulters may dispose of the amounts in the accounts and "realisation of amount due under the certificate would in consequence be delayed or obstructed".
The regulator has ordered banks and depositories to attach "all accounts by whatever name called of the defaulter, either singly or jointly with any other persons".
It has further ordered the banks and depositories that with immediate effect "no debit" would be made in these accounts until further directions from the market regulator.
However, the credits, if any, into the account maybe allowed, Sebi said.
The watchdog has also asked for various details of the accounts held by the entities including account statements.
