Sebi orders attachment of bank, demat accounts of individual in RTS Corporation case

Capital markets regulator Sebi has ordered the attachment of bank accounts as well as share and mutual fund holdings of an individual to recover over Rs 22 lakh in the matter of RTS Corporation . The recovery proceedings against Mukesh G Konde for Rs 22.61 lakh, includes further interest, all costs, charges and expenses, Sebi said in an attachment order issued on Tuesday. In its notice, Sebi asked all banks, depositories and mutual funds not to allow any debit from accounts of Konde. However, credits have been permitted. Further, the markets watchdog has directed all banks to attach all accounts including lockers held by the defaulters. There is sufficient reason to believe that the defaulter may dispose of the securities in the account held by you and realisation of amount due under the certificate would in consequence be delayed or obstructed. In order to protect the interest of investors, it is necessary to attach the assets of the defaulters, including bank, demat accounts and mutual fund investments, to prevent any alienation of the same, it added. In June 2016, the regulator levied a fine of Rs 90 lakh on Konde and eight other entities in a matter pertaining to non-genuine… Read full this story

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