Sebi slaps demand notices on 4 entities
Mkt regulator directed them for payment of Rs4.56 cr within 15 days for their alleged involvement in fund diversion case diversion and misrepresentations to conceal the fraud
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New Delhi Capital markets regulator Sebi sent notices to four entities asking them to pay Rs4.56 crore within 15 days in Fortis Healthcare’s case of fund diversion and misrepresentations to conceal the fraud.
In addition, the regulator warned of attachment of assets and accounts if they fail to make the payment within the stipulated time. The four entities that received notices are -- Fortis Global Healthcare, RHC Finance, Shimal Healthcare and ANR Securities. The demand notices came after the entities failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi) in May 2020. In four fresh notices dated June 9, Sebi directed them to pay Rs4.56 crore, which includes interest and recovery cost, within 15 days. In the event of non-payment of dues, the regulator will recover the amount by attaching and selling their moveable and immovable properties. Besides, they will face attachment of their bank accounts. Also, the regulator takes the route of arrest and detention in prison to recover the amount.
