Sebi orders attachment of bank, demat accounts of two firms

Markets regulator Sebi has ordered attachment of bank as well as demat accounts of Torsa Agro Projects and Purusattam Infotech Industries to recover total dues worth over Rs 40000000.The attachment order comes after the firms failed to comply with Sebi's directive of refunding investors' money along with interests.The regulator has ordered attachment of bank accounts, demat accounts of Torsa Agro Projects to recover Rs 1.530000000 due to the investors, whereas Purusattam Infotech Industries owes Rs 2.90000000.The pending dues include fine imposed on them along with interest, charges, expenses and other costs.Similarly, the regulator has directed depositories - NSDL and CDSL - to attach all demat accounts of the defaulters.The watchdog has also asked for various details of the accounts held by the firms, including account statements.The markets regulator has been given powers to attach properties and bank accounts, among other things, of persons and entities which have failed to comply with directions involving payment of penalties and other dues.In August last year, the regulator had ordered the companies to refund the money raised from investors. These firms mobilised money from investors in violation of public issue norms.