SEBI releases list of 1,677 defaulters who failed to pay penalties

The Securities and Exchange Board of India (SEBI) has come out with a list of as many as 1,677 entities, including individuals, who failed to pay penalties imposed by the market regulator till the end of May.

The violations pertain to providing unregistered portfolio management services, failure to redress investors' complaints and unauthorized collection of money from investors, among others.

Some dues are pending since 1998 and many cases are also in courts and at other forums.

The regulator is also exercising its powers to attach bank as well as demat accounts and other assets for recovery of the dues.

SEBI has powers to recover penalties imposed by the adjudicating officer, amount directed to be disgorged and money ordered to be refunded to the regulator.

(Featured Image – Zee Business)