INSUBCONTINENT EXCLUSIVE:
As many as 1,677 entities, including individuals, failed to pay penalties imposed by Sebi till the end of May, according to the regulator
The list of defaulters as on May 31, 2018 "for non-payment of penalty imposed by Sebi through orders passed up to December 31, 2017" has
been published on the regulator's website today
The defaulters include individuals as well as companies that failed to pay fines for various offences related to the securities market
While certain dues are as small as Rs 15,000, other penalties run into a few lakhs and even crores of rupees
These violations pertained to providing unregistered portfolio management services, failure to redress investors' complaints and
unauthorised collection of money from investors, among others
Some dues are pending since 1998 and many cases are also in courts and at other forums
Separately, the Securities and Exchange Board of India (Sebi) said it has launched prosecution in 1,139 cases for various violation "other
than collective investment scheme (CIS) as on July 31, 2018"
The regulator is also 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
