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Sebi orders release of ENN ENN Corp's bank, demat accounts

Press Trust of India  |  New Delhi 

Markets regulator has ordered the release of and demat accounts of ENN ENN Corp after it paid the pending dues amounting to Rs 12.55 lakh.

The banks, depositories -- and -- and mutual funds are directed to "release the accounts/ lockers/ demat accounts/ mutual fund folios" of the firm, said in an order dated November 10.


On November 7, Securities and Exchange Board of (Sebi) had ordered attachment of and demat accounts as well as mutual fund folios of ENN ENN Corp after learning that Starview Constructions, a firm against which the regulator had earlier issued an attachment order, had amalgamated with the company in question.

Sebi's attachment ruling against Starview Constructions had come after the firm failed to pay a fine imposed on it by the regulator in 2013 for violating capital market norms in the matter of of Rajasthan.

The pending dues against ENN ENN Corp included an initial fine of Rs 8 lakh imposed on Starview Constructions, a 12 per cent per annum interest on it from February 2013 till November 2017, amounting to Rs 4,54,225 and a recovery cost of Rs 1,000.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, November 11 2017. 16:28 IST
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