Mumbai: Market watchdog 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.
The Securities and Exchange Board of India (Sebi) has to recover Rs 40.95 lakh from Vivekanand Patankar, Rs 40.71 lakh from Deepak Narvekar, Rs 40.68 lakh each from Santosh Narvekar and Ajit Suryavanshi and Rs 2.88 lakh from Ranjan Mandal.
The dues include penalties imposed on entities on charges of violating capital market norms in matter of Mega Corporation.
In five separate attachment orders dated July 10, Sebi has 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 informed 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 also asked banks to attach the lockers held by the entities 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 the entities, including account statements.
In a separate order, Sebi has directed freezing the bank and demat accounts of Radan Multimedia to recover dues worth over Rs 15.53 lakh. The dues included the penalty imposed by the regulator in March this year in the matter of Radan
Multimedia.
Besides, Sebi has ordered attachment of bank and demat accounts of six entities to recover dues totalling Rs 6.26 lakh in the matter of Genus Commu Trade Ltd.
The regulator has to recover an amount of Rs 1.71 lakh from DPS Shares & Securities, Rs 1.5 lakh from Sunil Ratilal Zaveri, Rs 1.48 lakh from Sachin Suresh Patil, Rs 74,408 from Shailesh Ved, Rs 59,727 from Ramesh Chandra Keshrimal Jain and Rs 22,353 from Vikas Gourihar Narnavar.
Sebi, in a separate case, 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.
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