Sebi orders nearly Rs 40-crore recovery from two dozen defaulters

The Securities and Exchange Board of India (Sebi) has ordered attachment of bank and demat accounts of two dozen defaulters in the matters of three companies — Mass Infra Realty, Skymarg Agro Industries India, and Life Care Real Developers — to recover dues totalling nearly Rs 40 crore.

The defaulters are 11 directors of Mass Infra Realty, five directors of Skymarg Agro, Life Care and its seven directors, the regulator said in three separate notices.

The decision has been taken after Mass Infra Realty and Skymarg Agro failed to comply with Sebi’s direction to refund money to investors to the tune of Rs 37.9 crore and Rs 30.67 lakh respectively.

Sebi had directed Mass Infra Realty and Skymarg Agro in April 2016 and November 2017, respectively, to refund money to investors.