Bank, Demat and Mutual Fund account seized ... Sebi's actions on Meul Choksi -Sebi attaches Mehul Choxis assets for violation of insider trading

Market regulator Sebi ordered the fleeing diamond trader Mehul Choxi’s bank accounts and mutual fund ownership. This step was taken to recover the fees of Rs 2.1 crore in the shares of Geetanjali James in the case of violating the insider trade rules. Pti, New -Delhi. Market regulator Sebi ordered the fleeing diamond trader Mehul Choksi to attach bank accounts, shares and mutual fund ownership. So that the overdue Rs 2.1 crore in the shares of Geetanjali James can be recovered in the event of violating the insider trade rules. The step was taken after a demand notice was issued to Choksi on May 15. It warned that if he did not pay within 15 days, his properties and bank accounts would be attached. This question notice was issued when Choksi did not pay the fine imposed by the Securities and Exchange Board of India (Sebi) in January 2022. In an attachment notice released on June 4, Sebi said the outstanding amount of Rs 2.1 crore contains an initial fine of Rs 1.5 crore and an interest of Rs 60 lakh. Instructions given to attach all accounts, Sebi asked all banks, deposit (CDSL and NSDL) and mutual funds not to allow any debit of Choksi accounts. However, credit is allowed. Sebi instructed banks to attach all accounts, including Choxi. With the recovery process, Sebi said that Choksi could destroy the amount of shares held in bank accounts, followed, mutual fund and demat accounts. This can cause delay or impediment in restoring the outstanding amount. Instructions to pay Rs 5.35 crore, in their order passed in January 2022, the regulator imposed a fine of Rs 1.5 crore on Choksi and banned it from the stock market for a year. In May 2023, Sebi Choksi instructed to pay Rs 5.35 crore in the event of fraud in the shares of Gitanjali James. Choxi, who was the chairman and manager of Geetanjali James, escaped from the country in 2018 after cheating on the government Punjab National Bank (PNB) more than Rs 14,000 crore. In April, Choksi was arrested by Indian investigations in Belgium after the extradition request. Also read: “Like a machine, bail in serious crimes,” said the Supreme Court that has yet to say in the instructions given about anticipating bail?