Sebi orders release of ENN ENN Corp's bank, demat accounts
Markets regulator Sebi has ordered the release of bank and demat accounts of ENN ENN Corp after it paid the pending dues amounting to Rs 12.55 lakh.
The banks, depositories -- NSDL and CDSL -- and mutual funds are directed to "release the bank accounts/ lockers/ demat accounts/ mutual fund folios" of the firm, Sebi said in an order dated November 10.
On November 7, Securities and Exchange Board of India (Sebi) had ordered attachment of bank and demat accounts as well as mutual fund folios of ENN ENN Corp after learning that Starview Constructions, a firm against which the regulator had earlier issued an attachment order, had amalgamated with the company in question.
Sebi's attachment ruling against Starview Constructions had come after the firm failed to pay a fine imposed on it by the regulator in 2013 for violating capital market norms in the matter of Bank of Rajasthan.
The pending dues against ENN ENN Corp included an initial fine of Rs 8 lakh imposed on Starview Constructions, a 12 per cent per annum interest on it from February 2013 till November 2017, amounting to Rs 4,54,225 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.)
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