Sebi orders release of bank, demat a/cs of individual

Markets regulator Sebi today ordered the release of bank and demat accounts of an individual after recovering dues of Rs 9.57 lakh.
The amount recovered by Sebi from one Akshat Ashok Gupta includes "interest and cost towards full and final settlement".
In an order, Sebi directed banks, depositories -- NSDL and CDSL -- and mutual funds to "release the bank accounts/ lockers, demat accounts and mutual fund folios" of Gupta.
In December 2017, the Securities and Exchange Board of India (Sebi) had issued notices against Gupta attaching his bank and demat accounts as well as mutual fund folios to recover Rs 9.49 lakh.

The notices had come after Gupta failed to pay a fine imposed on him by the regulator in December 2014 for violating capital market norms including PIT (Prohibition of Insider Trading) Regulations in the matter of Santowin Corporation.
Till December 2017, the pending dues against Gupta included the initial penalty of Rs 7 lakh, a 12 per cent per annum interest amounting to Rs 2.48 lakh and a recovery cost of Rs 1,000.