Sebi orders defreezing accounts of 3 entities after recovery

Sebi had earlier imposed a penalty of Rs 4 lakh each on the three entities along with a fine of Rs 2,50,000 on collectively for not complying with the market norms

Market regulator Securities and Exchange Board of India (Sebi) Friday ordered to release bank and demat accounts of three entities after it recovered pending dues of about Rs 15 lakh.

The dues include interests, all costs, charges and expenses.

The capital markets watchdog had earlier ordered attachment of bank and demat accounts of Saurabh H Borah, Rakhi S Borah and Saurabh H Borah HUF (Hindu Undivided Family) to recover the penalties imposed on the entities for violation of capital market norms.

Sebi said it has recovered Rs 14,98,812 from the three entities towards full and final settlement of dues.

Stating that it had collected "full and final settlement of demand raised" from the defaulter, Sebi directed the banks and depositories to defreeze the accounts of the entities.
 

In November, the regulator had imposed a penalty of Rs 4 lakh each on the three entities along with a fine of Rs 2,50,000 on collectively for not complying with the market norms.

Following a failure by the entities to pay the penalty, last month Sebi ordered for attachment of bank and demat accounts, which was released Friday.