Sebi orders attachment of bank accounts of Apex Intertech and Vijay Remedieshttps://indianexpress.com/article/business/banking-and-finance/sebi-orders-attachment-of-bank-accounts-of-apex-intertech-and-vijay-remedies-3048976/

Sebi orders attachment of bank accounts of Apex Intertech and Vijay Remedies

Attachment of bank and demat accounts of Apex Intertech and Vijay Remedies have been ordered to recover Rs 4,92,233 and Rs 1,85,212, respectively.

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Sebi has been given powers to attach properties and bank accounts, of persons and entities which have failed to comply with directions involving payment of penalties and other dues. (Source: File)

Markets regulator Sebi has ordered attachment of bank and demat accounts of two companies — Apex Intertech and Vijay Remedies — to recover dues of around Rs 7 lakh.

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

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Attachment of bank and demat accounts of Apex Intertech and Vijay Remedies have been ordered to recover Rs 4,92,233 and Rs 1,85,212, respectively.

The latest order came after the companies failed to pay the fine imposed by the regulator for violation of various capital market norms.

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In two separate orders, the Securities and Exchange Board of India (Sebi) has directed banks to attach all accounts, including lockers, held by the entities and directed depositories, NSDL and CDSL, to attach all demat accounts of the defaulters.

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

Sebi 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.