Sebi orders release of bank, demat a/cs of Victory Trading Corp, owner

Markets regulator Sebi has ordered the release of bank and demat accounts as well as mutual fund folios of Victory Trading Corporation and its proprietor after recovering dues amounting to Rs 1.453 million.

The amount recovered by the Securities and Exchange Board of India (Sebi) from the firm and its proprietor Vasantkumar Bissa includes "interest and costs towards full and final settlement" of the proceedings.

In an order, dated May 28, Sebi directed banks, depositories -- NSDL and CDSL -- and mutual funds to "release the bank accounts/ lockers/ demat accounts and mutual fund folios" of Victory Trading Corporation and Bissa.

In December 2015 and March 2016, the regulator had initiated attachment proceedings by issuing notices against the firm and Bissa attaching their bank and demat accounts as well as mutual fund folios to recover Rs 1.427 milion.