Markets regulator Sebi on Thursday ordered attachment of bank accounts as well as shares and mutual fund holdings of two individuals to recover dues totaling around Rs 1.3 crore. The recovery proceedings have been initiated against GurmeetSingh and IS Sukhija after they failed to pay fines imposed on them by the Securities and Exchange Board of India (Sebi) in June 2020. Sebi had levied a fine of Rs 1 crore on Singh and Rs 20 lakh on Sukhija in a case pertaining to manipulation in the issuance of global depository receipts (GDRs) by Beckons Industries. In two separate attachment notices on Thursday, Sebi has ordered the attachment of bank as well as demat accounts of the two individuals to recover the pending dues.
The pending dues of Rs 1.3 crore comprise initial penalty amount, interest, and recovery cost, it added.Sebi asked banks and depositories not to allow any debit from their accounts. However, credits have been permitted. Further, the capital markets watchdog has directed the banks to attach all accounts, including lockers, held by them.