Sebi orders attachment of bank, demat accounts of 8 entities

Markets regulator Sebi Thursday ordered the attachment of bank and demat accounts as well as mutual fund folios of eight entities to recover total dues amounting to Rs 1.64 crore.

The entities include Ingenious Finance & Investment, Chamundeshwari Mercantile, Anjaneya Holdings Pvt Ltd, Harvic Management Services, Prashant Kamble, Divyesh Harish Surana, Jayesh Himatlal Mehta and Shivcharan S Kashyap.

The attachment orders have come after the entities failed to pay the initial penalties slapped on them by the Securities and Exchange Board of India (Sebi) for violating securities market regulations.

The pending dues include initial fines and interest on them.

In attachment notices, Sebi has directed the banks to attach all accounts including lockers held by the entities.

The depositories NSDL and CDSL have been asked to attach their demat accounts, while mutual fund houses have been ordered to attach folios.

Sebi has been given powers to attach properties and bank accounts, among other things, of entities who have failed to comply with the regulators' directions involving payment of penalties and other dues.