Sebi orders defreezing Mapro Industries' bank, demat accounts

Penalty on the company was imposed for violation of capital market norms

Markets regulator Sebi has ordered the releasing of bank and demat accounts of Mapro Industries after it recovered dues pending over Rs 4.5 lakh.

The dues include interests, all costs, charges and expenses.

The watchdog had earlier ordered attaching of the bank and demat accounts of the company to recover the penalty imposed for violation of capital market norms.

The company had failed to make yearly disclosures regarding its shareholding pattern to stock exchanges in 2005, 2007, 2009 and 2011 within stipulated time.

In a recent order, Securities and Exchange Board of India (Sebi) said it has recovered Rs 4,77,011 from Mapro Industries towards full and final settlement of dues.

Sebi has "directed to release the bank accounts/lockers/ demat accounts/ mutual fund folios of the defaulter attached, if any, pursuant to the notice of attachment".

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.