Sebi orders attachment of bank, demat a/c of ISF Securities

Markets regulator Sebi has ordered attachment of bank and demat accounts of ISF Securities to recover dues worth over Rs 15 lakh.
The pending dues include fine imposed along with interest, charges, expenses and other costs.
The latest order comes after the entity failed to pay Rs 11 lakh fine imposed on it, in March 2013, for violation of stock broker norms and indulging in fraudulent trade practice in the scrip of Exedy India Ltd (EIL).
Exercising its powers to recover penalties from defaulters, the Securities and Exchange Board of India (Sebi) has ordered attachment of bank and demat accounts of ISF Securities to recover dues worth Rs 15,59,564.

In two attachment orders, Sebi has directed banks to attach all accounts including lockers held by ISF Securities and has directed depositories -- NSDL and CDSL -- to attach all demat accounts of the defaulter.
The watchdog has also asked for various details of the accounts held by ISF Securities, including account statements.
The markets regulator 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.