The markets watchdog has found that entities failed to comply with an earlier order passed in February that directed them to refund investors' money.
Accordingly, Securities and Exchange Board of India (Sebi) initiated attachment proceeding against the defaulters.
In a notice dated August 25, Sebi has asked banks to attach all accounts, including lockers, held by these entities. Similarly, depositories — NSDL and CDSL — have been directed to attach all demat accounts of the defaulters.
The regulator has powers to attach properties and bank accounts, among other things, of persons and entities that fail to comply with its directions involving payment of penalties and other dues.