Capital markets regulator Sebi has come out with a list of 25 defaulters, who are found to be untraceable. These defaulters failed to return investors’ money or failed to pay fines imposed on them by the regulator for various offences related to the securities market.
Publishing the details of the untraceable defaulters on its website on Wednesday, Sebi said the recovery certificates were drawn up against these individuals by the regulator’s recovery officer. However, these notices could not be served to the defaulters at their last known addresses.
These notices were served during July 2014 to January 2022, the Securities and Exchange Board of India (Sebi) said. The regulator has asked these defaulters to contact Sebi’s recovery officer by sending a letter or an e-mail by March 24, 2022. “Further, if any person is aware of the whereabouts of the defaulter (s)…detail of the same may be provided by sending a letter to the recovery officer… or an e-mail… by March 24, 2022,” it added.
Kanaiyalal Joshi, Santosh Krishna Pawar, Chetan Mehta, Mukund Yadu Jambhale, Ankit k Agarwal, Jayesh Shah, Sureshkumar P Jain, Praveen Vasisth, Rajesh Tukaram Dambre, Jayesh Kumar Shah, Dahyabhai G Patel, Dalsukhbhai D Patel, Vithalbhai V Gajera are among the defaulters. Besides, others are Vinod D Patel, Pravin P Patel, Navinkumar Patel, Sunil Kuril, Dilip Hemant Jambhale, Jagdish Jaychandbhai Pandya, Chirag Dineshkumar Shah,Prashant Khankari, Kailash Shriram Agarwal, Dattu Shitole, Jintendra Chandrabhan Singh and Ankit Sanchariya.
Sebi has powers to recover money from various entities by way of passing orders for refund of money to investors, disgorgement of funds to be distributed to investors, and also collecting fees and penalties levied by it. Since getting the recovery powers in 2013, Sebi has initiated recovery proceedings against a large number of defaulters.
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