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SEBI Orders Release of Triumph International Finance India's Accounts

Last month, SEBI had ordered the attachment of bank and demat accounts and the mutual fund folios of Triumph International Finance India after the company failed to pay a fine imposed on it by the regulator in April 2003 for violating securities regulation in the matter of Shonkh Technologies International.

PTI

Updated:October 12, 2017, 8:48 PM IST
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SEBI Orders Release of Triumph International Finance India's Accounts
In this file photo, the logo of the Securities and Exchange Board of India (SEBI) is pictured on the premises of its headquarters in Mumbai. (Photo: Reuters/Shailesh Andrade)
New Delhi: Markets regulator SEBI on Thursday ordered the release of bank and demat accounts of Triumph International Finance India after the firm paid the pending dues amounting to Rs 17.76 lakh.

The banks, depositories -- NSDL and CDSL -- and mutual funds are directed to "release the bank accounts/ lockers/ demat accounts/ mutual fund folios" of Triumph International Finance India, SEBI said in an order.

The ruling of the Securities and Exchange Board of India (SEBI) has come after the firm paid the pending dues. Last month, SEBI had ordered the attachment of bank and demat accounts and the mutual fund folios of the firm.

SEBI's attachment ruling had come after the company failed to pay a fine imposed on it by the regulator in April 2003 for violating securities regulation in the matter of Shonkh Technologies International.

The pending dues against the firm included an initial fine of Rs 6.50 lakh, a 12 percent per annum interest on it from April 2003 till September 2017, amounting to Rs 11,25,337 and a recovery cost of Rs 1,000.
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