Sebi Cracks Down on Defaulters in Eros International Case

The Securities and Exchange Board of India (Sebi) has ordered the attachment of bank accounts, shares, and mutual fund holdings of ten individuals to recover pending dues of Rs 1.25 crore. The individuals failed to comply with Sebi's investigation related to Eros International Media Ltd's financial irregularities.

The Securities and Exchange Board of India (Sebi) has intensified its efforts to recover Rs 1.25 crore by targeting the financial assets of ten individuals. These individuals have been non-compliant in connection with Eros International Media Ltd's investigation.

In a series of orders, Sebi has mandated the attachment of their bank accounts, demat accounts, and mutual fund holdings to expedite the recovery process. The defaulters face accusations of possibly obstructing or delaying the realization of their dues.

Previously, Sebi imposed penalties totaling Rs 2 crore on 17 entities, citing non-cooperation in its inquiries into financial discrepancies and agreements involving Eros International Media Ltd. The crackdown is part of Sebi's ongoing efforts to ensure compliance and accountability in the securities market.