Sebi orders release of Triumph Int'l Finance India's accounts

Markets regulator Sebi today 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 per cent 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.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)