The attachment notice came after Dhoot and Electroparts (India) failed to pay the fine imposed on them.
In two attachment orders passed on Friday, the markets watchdog has ordered the attachment of bank, demat accounts and mutual fund folios of Venugopal Dhoot and Electroparts (India) to recover the pending dues.
Going by the notices, dues of Rs 68.52 lakh were pending with Dhoot and Electroparts (India), which includes interest and recovery costs.
As per the notice, Sebi said there is sufficient reason to believe that the defaulters may dispose of the bank accounts and securities in the demat accounts or mutual fund folios and “realisation of the amount due under the certificate would, in consequence, be delayed or obstructed”.
Accordingly, Sebi asked all banks, depositories, and mutual funds not to allow any debit from the accounts. Sebi, in September 2021, slapped a penalty of Rs 25 lakh each on Dhoot and two promoter entities — Electroparts (India) Pvt Ltd and Videocon Realty and Infrastructures Ltd — for insider trading in the securities of Videocon Industries. Electroparts (India) was formerly known as Shree Dhoot Trading and Agencies. The violations of insider trading norms happened in 2017.
Sebi found that Videocon Realty and Infrastructures, Electroparts (India), and Dhoot being insiders had executed market transactions while in possession of Unpublished Price Sensitive Information (UPSI).
The investigation in the scrip of Videocon was carried out in April-September 2017.
The information with respect to the classification of Videocon’s loan account as NPA by Dena Bank was likely to materially affect the share prices of Videocon Industries and it was considered as UPSI.
The period of UPSI was March 1, 2017, to May 9, 2017.
The two promoter entities had either pledged their shares or transferred their shares of Videocon Industries to other entities during the period.
The authorised representative Venugopal Dhoot was an insider and traded on behalf of the two promoter companies who were also insiders during the UPSI period.
