Sebi’s decision has been taken after United Breweries failed to pay the fine imposed on it. Photo: ReutersNew Delhi: 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 (UBHL) to recover dues totalling Rs18.5 lakh. In an attachment notice dated 13 November, Sebi asked banks, depositories and mutual funds not to allow any debit from the accounts of UBHL. Further, Sebi has directed the banks to attach all accounts, including lockers, held by the defaulter. “There is sufficient reason to believe that the defaulter may dispose of the amounts in the bank accounts and securities in the demat accounts held with your bank, depository, mutual fund, and realisation of amount due under the certificate would in consequence be delayed or obstructed,” Sebi said.

Source: Mint November 16, 2017 08:15 UTC