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Sebi has asked Reliance Home Finance Ltd to pay Rs 130 crore to five parties, including Netizen Engineering and Citi Securities and Financial Services, in a case of illegal misappropriation of funds. It warned these parties that their properties would be attached if they failed to pay within 15 days.
New Delhi. The Securities and Exchange Board of India (SEBI) has asked Reliance Home Finance Ltd to pay Rs 130 crore to five parties, including Netizen Engineering and Citi Securities and Financial Services, in a case of illegal misappropriation of funds. The capital markets regulator has warned these parties that their assets and bank accounts will be attached if they fail to make the payment within 15 days.
This notice has been sent to Netizen Engineering Private Limited, Gamesa Investment Management Private Limited, Vinayak Ventures Private Limited, Deep Industrial Finance Limited and City Securities and Financial Services Private Limited. SEBI had imposed fine on these units in August, which they had failed to pay.
After this this notice has been sent. The market regulator has directed in five separate notices that these five units will have to pay Rs 26 crore each within 15 days. This amount also includes interest and recovery costs. If these entities fail to pay this amount, the market regulator will recover it by attaching their movable and immovable properties and selling them. Apart from this, their bank accounts will also be frozen.
Disclaimer: Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
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