Sebi attaches 4 cos' bank, demat accounts to recover Rs 6 cr

Markets regulator Sebi has ordered attachment of bank and demat accounts of four companies to recover dues worth over Rs 6 crore.
The companies in question are Sun Plant Business, RCS Vanaspati Industries, Platinum Finance and Sanderson Industries.
The Securities and Exchange Board of India (Sebi) had penalised the four after they were found violating capital market regulations.
Of the total dues to be recovered, more than Rs 5.76 crore
is from Sun Plant Business alone and Rs 3.41 lakh from RCS Vanaspati Industries.
Platinum Finance and Sanderson Industries have been asked to cough up Rs 4.54 lakh and Rs 7.94 lakh, respectively, according to separate orders issued by the regulator.

The markets watchdog has found that Sun Plant Business as well as its directors and promoters failed to comply with an earlier order that directed it to refund investors' money. Attachment proceedings have been ordered against them to recover over Rs 5.76 crore which includes interest component also.
Sebi has asked banks to attach all accounts, including lockers, held by these entities. Similarly, depositories -- NSDL and CDSL -- have been directed to attach all demat accounts of the defaulters.
The regulator has powers to attach properties and bank accounts, among other things, of persons and entities that fail to comply with its directions involving payment of penalties and other dues.