SEBI orders attachment of bank, demat accounts of 22 entities

SEBI orders attachment of bank, demat accounts of 22 entities

The decision was taken after the entities failed to pay the fine imposed on them by Sebi for violating securities regulation in 20 different cases.Markets regulator SEBI has ordered attachment of bank accounts as well as share and mutual fund holdings of 22 entities, including individuals, to recover dues totalling Rs 2.8 crore.




The decision was taken after the entities failed to pay the fine imposed on them by Sebi for violating securities regulation in 20 different cases.These entities include Triumph International Finance India, Innovision E-Commerce, DPS Shares and Securities, Systel Infotech and T H Vakil Shares & Securities.

The pending dues range from Rs 54,000 to Rs 70 lakh.In 20 attachment orders dated December 21, the Securities and Exchange Board of India directed the banks to attach all accounts, including lockers held by these 22 entities.




Also, the regulator has directed the depositories — NSDL and CDSL — and the mutual funds in India to attach all demat accounts and the mutual fund folios of these entities.The pending dues — totalling Rs 2.8 crore — include the initial fine, interest amount and a recovery cos

“There is sufficient reason to believe that the defaulter may dispose of the amounts or proceeds in the bank accounts held with your bank securities or instruments in the demat accounts or mutual fund held with you and realisation of amount due under the certificate would in consequence be delayed or obstructed,” Sebi said in similar worded attachment orders.

The Mint, New Delhi, 28th December 2017

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