Sebi orders attachment of bank and demat a/cs of 3 individuals to recover Rs 16 lakh

Markets regulator Sebi has ordered attachment of bank and demat accounts as well as mutual fund folios of three individuals to recover dues totalling Rs 16.4 lakh.

The three individuals are Ajit Vinod Tank, Indira Bharat Kumar Bhalla, Taraban Vasant Ganatra and attachment of bank and demat accounts has been ordered to recover Rs 5,46,863 from each individual, totalling Rs 16,40,589.

The pending dues include fine imposed along with interest, charges, expenses and other costs, Sebi said.

The attachment orders came after they failed to pay the fine of Rs 5 lakh each imposed by Securities and Exchange Board of India (Sebi) for fraudulent trading in the scrips of Aarya Global Shares and Securities Ltd in November 2017.

In three separate but similarly worded orders dated October 3, 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.

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