Mumbai: Market watchdog Sebi has ordered attachment of bank and demat accounts of 30 entities to recover dues worth over Rs 8 crore in several cases.
The dues include penalty lakh imposed on these entities by Securities and Exchange Board of India (Sebi) on charges of violating capital market norms. The dues varies from few thousands to crore of rupees.
These attachment orders were issued between July 10 and July 14 but published on Sebi's website today.
In attachment orders, Sebi has asked banks to attach all accounts, including lockers held by these entities.
Similarly, the regulator has directed depositories - NSDL and CDSL -- to attach all demat accounts of the defaulters.
Sebi informed the banks and the depositories that there was "sufficient reason" to believe that defaulter 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 also asked banks to attach the lockers held by him as well as "all other amount/proceeds due or may become due to the defaulters or any other money held or may subsequently hold for or on account of defaulter".
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 may be allowed, Sebi said.
The watchdog has also asked for various details of the accounts held by these entities, including account statements.
Individually, Sebi has ordered to freeze the bank and demat accounts of Sanyo Finance & Investment to recover dues worth Rs 2.27 crore in the matter of Shonkh Technologies.
Also, attachment order was passed against Arihant Cotsyn to recover dues to the tune of Rs 2.25 crore. The penalty was imposed on the company by Sebi for allegedly failing to redress investor grievances.
Sebi has ordered attachment of bank and demat accounts of five individuals to recover dues worth over Rs 1.66 crore in Mega Corporation case, while in the matter of Genus Commu Trade, the regulator has ordered to freeze the bank and demat accounts of one Ashok Bhagat to recover dues worth about Rs 97 lakh in Empower Industries India Ltd case.
In the matter of Genus Commu Trade, Sebi ordered attachment of bank and demat accounts against six entities to recover dues totalling Rs 6.26 lakh.
However, Sebi ordered for releasing the bank and demat accounts of one Usha Mehta after recovering dues from her.
"...Whereas an amount of Rs 12.12 lakh has been recovered towards the full and final settlement of the dues from the defaulter (Mehta)," Sebi said. Consequently, the regulator directed to release the bank, locker and demat accounts of Mehta.
