New Delhi : Markets regulator the Securities and Exchange Board of India (SEBI) has ordered attachment of bank accounts as well as share and mutual fund holdings of defaulter businessman Vijay Mallya-led United Breweries (Holding) Ltd to recover dues totalling Rs 18.5 lakh.
The decision has been taken after UBHL failed to pay the fine imposed on it. In 2015, Sebi had levied a fine of Rs 15 lakh on the company for disclosure lapses regarding creation and invocation of certain pledge transactions in shares of United Spirits. The pending dues totalling Rs 18.5 lakh -include the initial fine of Rs 15 lakh and interest of Rs 3.5 lakh and a recovery cost of Rs 1,000, reports PTI. In an attachment notice dated November 13, Sebi asked banks, depositories and mutual funds not to allow any debit from the accounts of UBHL. However, credits have been permitted. Further, Sebi has directed the banks to attach all accounts, including lockers, held by the defaulter.