Sebi releases list of 1,690 defaulters on its website

Market regulator Securities and Exchange Board of India (Sebi) on Monday released on its website the list of 1,690 entities, including individuals, who failed to pay penalties till the end of May.

The defaulters list as on May 31, 2018 "for non-payment of penalty imposed by Sebi through orders passed up to December 31, 2017" include individuals as well as companies that failed to pay fines for various offences related to the securities market.

Certain dues are as small as Rs 15,000, while other penalties run into a few lakhs and even crores of rupees.

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These violations pertained to providing unregistered portfolio management services, failure to redress investors' complaints and unauthorised collection of money from investors, among others.

As some dues are pending since 1998 and many cases are in courts and at other forums, Sebi is 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.

(With PTI inputs)