Sebi orders attachment of bank, demat accounts of three cos

Capital markets regulator Sebi today ordered attachment of bank and demat accounts of three companies to recover dues totalling around 6 lakh.
The latest orders came after Alps Motor Finance, Burr Brown India and Bajwa Agro Industries failed to pay the penalty imposed on them for violating regulations.
The regulator has to recover dues to the tune of Rs 2.28 lakh each from Alps Motor Finance and Burr Brown India and Rs 1.14 lakh from Bajwa Agro Industries. The pending dues include fine imposed along with interest, charges, expenses and other costs.
In three separate orders, the Securities and Exchange Board of India (Sebi) has directed banks to attach all accounts, including lockers, held by these companies and has directed depositories - NSDL and CDSL - to attach all demat accounts of the defaulters.

The watchdog has also asked for various details of the accounts held by the companies, including account statements.
Sebi has been given power 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.