Wednesday, November 5, 2014

Sebi starts attaching assets of defaulters

2:49 AM Posted by Unknown No comments


Market regulator has issued 10 separate orders against non-payment of dues worth over Rs4.25 crore.

Mumbai: Armed with new powers, the Securities and Exchange Board of India (Sebi) has initiated the process of attaching and selling securities held by entities that have failed to pay penalties imposed by the regulator.

Over the past fortnight, the capital market regulator has passed over 10 separate orders, allowing the recovery officer to sell securities held by the defaulters.

These are the first instances of Sebi moving beyond the attachment of movable properties.

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