1. Sebi orders attachment of bank, demat accounts of Basil International 

Sebi orders attachment of bank, demat accounts of Basil International 

Markets regulator Sebi has ordered attachment of bank and demat accounts of Kolkata-based Basil International and its 14 directors for dues worth Rs 92 crore.

By: | New Delhi | Published: May 25, 2016 8:40 PM
Sebi, Sebi News, SPNJ, collective investment scheme Markets regulator Sebi has ordered attachment of bank and demat accounts of Kolkata-based Basil International and its 14 directors for dues worth Rs 92 crore.

Markets regulator Sebi has ordered attachment of bank and demat accounts of Kolkata-based Basil International and its 14 directors for dues worth Rs 92 crore.

The attachment order comes after the firm and its directors failed to comply with the Sebi’s directive, of repaying investors’ money along with interest.

These entities had raised Rs 92 crore by issuing redeemable preference shares to investors without complying with the public issue norms.

In an order, Securities and Exchange Board of India (Sebi) has directed banks to attach all accounts including lockers held by these entities.

Similarly, the regulator has directed the 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 firms, 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.

In February 2015, the regulator had ordered Basil International and its directors to refund the money raised from investors along with an interest of 15 per cent.

Get latest news and updates on Auto Expo 2018, check breaking news on Budget 2018, like us on Facebook and follow us on Twitter.

  1. No Comments.

Go to Top