Sebi orders attachment of demat, bank accounts of defaulter

NEW DELHI: Capital market regulator Sebi has ordered attachment of bank and demat accounts of one Shyama Prasad Murarka to recover dues of over Rs 77 lakh for violation of norms.

Exercising its powers to recover penalties from defaulters, the Securities and Exchange Board of India (Sebi) has ordered attachment of bank and demat accounts of Murarka to recover dues worth Rs 77,29,736.

The pending dues include fine imposed on him along with interest, charges, expenses and other costs.

The penalty was imposed on Murarka for violating various capital market regulations.

In attachment orders dated October 16, Sebi has directed banks to attach all accounts including lockers held by him.

Similarly, the regulator has directed depositories -- NSDL and CDSL -- to attach all demat accounts of the defaulter.

The watchdog has also asked for various details of the accounts held by him, including account statements.

The markets regulator has been given powers to attach properties and bank accounts, among other things, of persons and entities which have failed to comply with directions involving payment of penalties and other dues.