New Delhi, Dec 7 (PTI) Markets regulator Sebi has ordered attachment of bank and demat accounts as well as mutual fund folios of Tatanagar Bricks Ltd to recover dues of over Rs 5 lakh.
On June 29, the Securities and Exchange Board of India (Sebi) had imposed a penalty of Rs 5 lakh on the firm.
The dues, totalling Rs 5,27,466, include the initial fine of Rs 5 lakh, a 12 per cent per annum interest from the date of the regulator's June order till December 6 amounting to Rs 26,466 and a recovery cost of Rs 1,000.
Sebi has directed the banks to attach all accounts including lockers held by the firm, according to an order dated December 6.
Also, the watchdog has directed National Securities Depository Ltd and Central Depository Services (India) Ltd and all the mutual funds to attach the demat accounts and folios of the company.
In a separate order dated December 6, the regulator has also ordered attachment of bank and demat accounts and mutual fund folios of Artex Development Ltd to recover dues of nearly Rs 2.72 lakh.
Sebi has been given powers to attach properties and bank accounts, among other things, of entities which have failed to comply with the regulators directions involving payment of penalties and other dues. PTI VRN SA .
This is unedited, unformatted feed from the Press Trust of India wire.