Sebi orders release of an individual's bank, demat accounts
Markets regulator Sebi has ordered release of bank and demat accounts of one individual after recovering dues of Rs 7.21 lakh.
The amount recovered by Sebi includes "interest and cost towards full and final settlement".
The banks, depositories -- NSDL and CDSL -- and mutual funds are directed to "release the bank accounts/ lockers, demat accounts and mutual fund folios" of Lakshmi Rajan, Sebi said in an order dated November 10.
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In October, the Securities and Exchange Board of India (Sebi) had ordered attachment of bank 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 article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
07:38 PM IST