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Sebi orders attachment of bank, demat accounts of two cos

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Press Trust of India New Delhi
Last Updated : Dec 30 2016 | 8:43 PM IST
Markets regulator Sebi today ordered attachment of bank and demat accounts of Infocare Infra and Silicon Projects India to recover dues worth Rs 21 crore.
These companies have failed to comply with Sebi's direction of making refund to investors. The firms had raised money by issuing securities to investors without complying with the public issue norms under the Companies Act.
In two separate orders, the regulator has directed attachment of bank and demat accounts of Infocare Infra to recover Rs 2.89 crore and Rs 18.03 crore from Silicon Projects.
Similarly, the regulator has directed depositories - NSDL and CDSL - to attach all demat accounts of the defaulters.
The watchdog has also asked for various details of the accounts held by the firms, including account statements.
The markets regulator 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.

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First Published: Dec 30 2016 | 8:43 PM IST

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