Markets regulator SEBI today ordered the release of bank and demat accounts of Alka Securities after recovering dues of Rs 16.17 lakh. The amount recovered by the SEBI from Alka Securities includes interest and cost towards full and final settlement, the regulator said.
In an order, SEBI directed banks, depositories -- NSDL and CDSL -- and mutual funds to "release the bank accounts/lockers, demat accounts and mutual fund folios" of Alka Securities.
In 2014, the Securities and Exchange Board of India (SEBI) had issued notices against Alka Securities, attaching its bank and demat accounts of the firm to recover Rs 10 lakh.
The notices had come after the firm failed to pay a fine of Rs 10 lakh for failing to make correct disclosures to the the exchange, BSE on several occasion and thereby violating PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) regulations.
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