Sebi orders release of bank, demat a/cs of promoters, director of Pro Fin Capital

Markets regulator Sebi Monday ordered release of bank and demat accounts of two promoters and a former director of Pro Fin Capital Services after recovering dues of nearly Rs 35 lakh.

The amount recovered by Sebi from Naresh Laxminarayan Grover, Anupam Narain Gupta and Triyamb Securities includes "interest and cost towards full and final settlement".

While Gupta and Triyamb Securities are the promoters of PFCSL, Grover is former director of the firm.

In three separate orders, Sebi directed banks, depositories -- NSDL and CDSL -- and mutual funds to "release the bank accounts/ lockers, demat accounts and mutual fund folios" of the three entities.

Securities and Exchange Board of India (Sebi) had issued notices against the entities attaching their bank and demat accounts as well as mutual fund folios to recover Rs 34.49 lakh.

The notices had come after the three entities failed to pay a fine imposed on them by the regulator in September 2017 for violating PIT (Prohibition of Insider Trading) and SAST (Substantial Acquisition of Shares and Takeovers) Regulations with regard to trading in the shares of Pro Fin Capital Services Ltd (PFCSL).

The regulator had imposed a penalty of Rs 15 lakh on Naresh Laxminarayan Grover and Rs 8 lakh each on Anupam Narain Gupta and Triyamb Securities.