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Sebi orders attachment of bank, demat accounts of four firms

 Market regulator Sebi has ordered attachment of bank and demat accounts of four companies to recover dues totalling over Rs 45 lakh for violation of capital market norms.


Sebi orders attachment of bank, demat accounts of four firms

New Delhi: Market regulator Sebi has ordered attachment of bank and demat accounts of four companies to recover dues totalling over Rs 45 lakh for violation of capital market norms.

The companies in question are Eider Infotech, Montari Industries, SKS Ltd and Woolways India. The pending dues include fine imposed along with interest, charges, expenses and other costs.

The latest orders came after the companies failed to pay the fine imposed by Sebi's adjudicating officer in the cases of breach of rules.

Attachment of bank and demat accounts of Eider Infotech has been ordered to recover Rs 36,95,110. The recovery figures stand at Rs 3,73,507, Rs 3,66,712 and Rs 1,25,000, for Montari Industries, SKS Ltd and Woolways India, respectively.

In four separate orders, the Securities and Exchange Board of India (Sebi) has directed banks to attach all accounts, including lockers, held by the entities and has asked depositories - NSDL and CDSL - to freeze all demat accounts of the defaulters.

The watchdog has also sought details of the accounts held by the entities, including account statements.

Sebi has been given powers to attach properties and bank accounts, among other things, of persons and entities which have failed to comply with directions involving payment of penalties and other dues.

From Zee News

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