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SEBI Orders Attachment Of Bank, Demat Accounts Of Rhine And Raavi Credits & Holdings, 3 Others
The action has been taken against them after the entities failed to pay the fine imposed on them during May-August 2019 for violating securities market norms in the matter of illiquid stock options.
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Markets regulator Sebi has ordered attachment of bank as well as demat accounts of Rhine and Raavi Credits & Holdings and three individuals to recover Rs 1.21 crore.
The recovery proceedings have been initiated against the entities after they failed to pay fine totalling Rs 1 crore imposed on them in March 2018. The fine was levied as they failed to return investors money as directed by Sebi.