Mumbai: Market watchdog Sebi has ordered attachment of bank and demat accounts of more than three dozen entities to recover pending dues in the matter of Millennium Cybertech Limited.
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 pending dues against a single entity runs into few lakh rupees.
All these attachment orders were issued yesterday published on Sebi's website on Friday.
The regulator has issued 39 attachment orders against entities including individual and company --Amar Yuvraj Adhav, Ambey Textiles, Sandeep Kadam, Goldcity Exports --for violating securities law in the matter of Millennium Cybertech Limited. Besides, Sebi has issued more than one attachment order against some entities.
Also, Sebi on Friday directed to freeze the demat and bank accounts of entities for violating securities law in the matter of Dhamaka Trading and Construction.
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.
