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Sebi orders release of an individual's bank, demat accounts

Press Trust of India  |  New Delhi 

Markets regulator has ordered release of and demat accounts of one individual after recovering dues of Rs 7.21 lakh.

The amount recovered by includes "interest and cost towards full and final settlement".

The banks, depositories -- and -- and mutual funds are directed to "release the accounts/ lockers, demat accounts and mutual fund folios" of Lakshmi Rajan, said in an order dated November 10.

In October, the Securities and Exchange Board of (Sebi) had ordered attachment of and demat accounts as well as mutual fund folios of Lakshmi Rajan to recover dues of around Rs 7.15 lakh.

Sebi's attachment ruling against the individual had come after she failed to pay a fine imposed on her by the regulator in 2014 for violating capital market norms in the matter of Arunjyoti Enterprises Ltd.

Till last month, the pending dues against Lakshmi Rajan included an initial fine of Rs 5 lakh imposed on her, a 12 per cent per annum interest on it from March 2014 till October 2017 amounting to Rs 2.14 lakh and a recovery cost of Rs 1,000.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 13 2017. 16:22 IST