Sebi today ordered defreezing of bank and securities demat accounts of an individual after the capital market regulator successfully recovered dues worth nearly Rs 2.50 crore from him.
Securities and Exchange Board of India (Sebi) had in January this year ordered attachment of bank and demat accounts of one Dhaval Mehta to recover penalties imposed on him with respect to IPO fraud case of Suzlon and IDFC. Mehta had made unlawful gains in this fraud.
In an order today, the market regulator said that Mehta had paid an amount of Rs 2.48 crore "towards satisfaction of demand raised in the...Recovery certificates".
Accordingly Sebi has asked the banks and the depositories -- NSDL and CDSL -- "to release the bank accounts/lockers and demat accounts of the defaulter (Mehta) attached, if any pursuant to the above said notice/s of attachment".
Sebi has been given direct powers by the parliament to freeze bank accounts, attach properties, conduct search and seizure and initiate recovery proceedings.
