Sebi orders demat, bank a/c freeze in Robinson Worldwide case
Jul 14 2014 , Mumbai
The Securities and Exchange Board of India (Sebi) has to recover Rs 8.93 lakh from Mangiram Sharma, Rs 6.87 lakh from DPS Shares & Securities, Rs 3.76 lakh from Sachin Patil, Rs 91,537 from RajKumar Dinesh Masalia and Rs 91,521 each from Sujal Shah and Pratik Shah.
The dues include penalties imposed on the entities on charges of violating capital market norms in the matter of Robinson Worldwide Trade Ltd.
In six separate attachment orders dated July 11, Sebi has asked banks to attach all accounts, including lockers held by the entities.
Similarly, the regulator has directed depositories - NSDL and CDSL -- to attach all demat accounts of the defaulters.
Sebi informed the banks and the depositories that there was "sufficient reason" to believe that defaulters may dispose of the amounts in the accounts and "realisation of amount due under the certificate would in consequence be delayed or obstructed".
The regulator has also asked banks to attach the lockers held by the entities as well as "all other amount/proceeds due or may become due to the defaulters or any other money held or may subsequently hold for or on account of defaulter".
It has further ordered the banks and depositories that with immediate effect no debit would be made in these accounts until further directions from the market regulator.
However, the credits, if any, into the account may be allowed, Sebi said.
The watchdog has also asked for various details of the accounts held by the entities, including account statements.