Sebi orders attachment of demat, bank a/c of three firms

Markets regulator Sebi has ordered attachment of bank and demat accounts of three companies to recover pending dues worth about Rs 30 lakh for violation of capital market norms.
The companies are Farry Industries, Champion Finsec and Sangam Infotech.
The latest order comes after the companies failed to pay fines imposed by Sebi's Adjudicating Officer in different cases for violating capital market norms.
Attachment of bank and demat accounts of Farry Industries has been ordered to recover Rs 21,20,397. The recovery figures stand at Rs 6,65,548 and Rs 1,96,047 for Champion Finsec and Sangam Infotech, respectively.
In three separate orders, the Securities and Exchange Board of India (Sebi) has directed banks to attach all accounts, including lockers, held by the firms and has asked depositories - NSDL and CDSL - to freeze all demat accounts of the defaulters.

The watchdog has also sought details of the accounts held by the companies, including account statements.
Sebi has been given powers to attach properties and bank accounts of persons and entities which have failed to comply with directions involving payment of penalties and other dues.