Capital markets regulator Sebi has ordered attachment of bank and demat accounts of Mahadev Industries to recover dues of over Rs 61 lakh.
The pending dues include fine imposed along with interest, charges, expenses and other costs.
The latest order comes after the company could not pay the fine imposed by the regulator for failing to resolve over 400 investor grievances and not registering with the regulator's online complaint redressal system, SCORES.
Attachment of bank and demat accounts of Mahadev Industries has been ordered to recover Rs 61,20,863.
In an order, the Securities and Exchange Board of India (Sebi) has directed banks to attach all accounts, including lockers, held by the firm and has directed depositories - NSDL and CDSL - to attach all demat accounts of the company.
The watchdog has also asked for various details of the accounts held by the company, including account statements.
Meanwhile, Sebi has also ordered attachment of bank and demat accounts of Kanha Vanaspati to recover pending dues of Rs 1.24 lakh.
The company failed to pay the fine imposed by the regulator for violation of various capital market norms.
Sebi 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.
Disclaimer: No Business Standard Journalist was involved in creation of this content
