Markets regulator Sebi on Thursday ordered release of bank and demat accounts of an individual after recovering dues of Rs 14.74 lakh. While the Securities and Exchange Board of India (Sebi) has recovered Rs 6.81 lakh in the matter of Gemstone Investment from one Rekha Bhandari, the regulator has collected Rs 7.93 lakh in Wellpack Papers & Containers matter.
In separate orders, Sebi said the amounts have been recovered towards “full and final settlement of the dues from the defaulter (Bhandari).” The banks, depositories -- NSDL and CDSL -- and mutual funds are directed to “release the bank/ demat accounts/ lockers, etc of the defaulter”, it said. Earlier in March, Sebi had ordered attachment of bank and demat accounts of Bhandari to recover dues of Rs 13.94 lakh.
Sebi’s attachment ruling against the individual had come after she failed to pay fines imposed on her by the regulator in 2014 for violating capital market norms in the matters of Gemstone Investment and Wellpack Papers & Containers. Till March, the pending dues against Bhandari in the matter of Gemstone Investment were over Rs 6.40 lakh and more than Rs 7.53 lakh with regard to Wellpack Papers & Containers matter.