SEBI orders attachment of bank, demat accounts of Santowin Corp & its promoter

live bse live nse live Volume Todays L/H More × Markets regulator SEBI has ordered attachment of bank and demat accounts as well as mutual fund folios of Santowin Corporation and its promoter to recover dues of over Rs 2300000. In case of Santowin Corporation, the pending dues totalling Rs 13,55,411 include the initial fine of Rs 1000000, a 12% per annum interest from the date of the regulator's 2014 order till December 6, 2017, amounting to Rs 3,54,411 and a recovery cost of Rs 1,000. With regard to the promoter of the firm, Akshat Ashok Gupta, the pending dues totalling Rs 9,49,088 include the earlier penalty of Rs 700000, a 12% per annum interest from the date of the regulator's 2014 order till December 6, 2017, amounting to Rs 2,48,088 and a recovery cost of Rs 1,000. Also, the watchdog has directed National Securities Depository and Central Depository Services (India) and all the mutual funds to attach their demat accounts and folios. In two more orders, also dated December 6, the regulator has ordered attachment of bank and demat accounts and mutual fund folios of Chanchal Jain and Kirit V Dave to recover dues of Rs 3,84,926 and Rs 2,14,282, respectively. SEBI has been given powers to attach properties and bank accounts, among other things, of entities which have failed to comply with the regulator's directions involving payment of penalties and other dues.