The recovery proceedings have been initiated against these 11 entities after they failed to pay the fines imposed on them.
The fines were imposed by the Securities and Exchange Board of India (Sebi) between 2018 and 2020 for violating provisions of securities market norms.
The pending dues — Rs 1.3 crore– include the initial fine amount, interest and recovery cost.
In 11 separate attachment notices issued during 2-10, Sebi asked banks and depositories not to allow any debit from the accounts of these 11 defaulters. However, credits have been permitted.
Further, the capital markets watchdog has directed the banks to attach all accounts, including lockers, held by the defaulters.
The regulator said there is sufficient reason to believe that the defaulters may dispose of the amounts in the bank accounts and securities in the demat accounts and “realisation of amount due under the certificate would in consequence be delayed or obstructed”.