Capital market regulator Sebi has directed attachment of bank and demat securities accounts of three individuals to recover from them pending dues including penalties worth Rs 38.56 lakh in a case related to fraudulent Radaan Mediaworks India.
The Securities and Exchange Board of India (Sebi) has to recover Rs 19.07 lakh from Ashok Sharma, Rs 9.83 lakh from Kishan Agarwal and Rs 9.65 lakh from Anil Kumar Agarwal.
The dues include penalty imposed on them in 2006 by the market watchdog for indulging in market manipulation and irregularities in trading of Radaan Mediaworks India shares.
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In separate attachment orders dated June 24, has directed the banks to attach accounts held by the three defualters.
Besides, Sebi has asked depositories -- NSDL and CDSL -- to attach demat accounts of securities held by the defaulters.
In the notices to the banks and depositories, Sebi has said it had "sufficient reason" to believe that the defaulters may dispose of the amount and securities held in the bank and demat accounts respectively. This Sebi said could result in delay and obstruction in realising the amount.
Accordingly, Sebi has ordered banks and depositories to attach "all accounts by whatever name called of the defaulter, either singly or jointly with any other persons".
Sebi has also asked banks to attach the lockers held by the entities as well as "all other amount/proceeds due or may become due to the defaulters or any other money held or may subsequently hold for or on account of defaulter".
It has further ordered that while credits into the accounts are allowed, no debit shall be made.
Among others, Sebi has also asked for details of the accounts held by the three individuals.
