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Sebi pulls out a list of untraceable defaulters

New Delhi: Capital markets regulator Sebi has released a list of 25 defaulters, who are found to be untraceable. These defaulters have failed to return investors’ money or pay fines imposed on them by the regulator for various securities market violations.

Posting details of the untraceable defaulters on its website on Wednesday, Sebi said the collection certificates had been issued against those individuals by the regulator’s debt collector.

However, these notices could not be served on the defaulters at their last known address.

These notices were served from July 2014 to January 2022, the Securities and Exchange Board of India (Sebi) said. The regulator has asked these defaulters to contact Sebi’s debt collector by sending a letter or email by March 24, 2022.

“Also, if any person knows where the defaulter(s) are…details can be provided by sending a letter to the debt collector…or an email…before March 24, 2022 “, he added.

Among the defaulters.

Also, the others are Vinod D Patel, Pravin P Patel, Navinkumar Patel, Sunil Kuril, Dilip Hemant Jambhale, Jagdish Jaychandbhai Pandya, Chirag Dineshkumar Shah, Prashant Khankari, Kailash Shriram Agarwal, Dattu Shitole, Jintendra Chandrabhan Singh, and Ankit Sanchariya.

Sebi has the power to recover money from various entities by issuing orders to refund money to investors, return funds to be distributed to investors, and also collect fees and penalties it imposes.

Since obtaining collection powers in 2013, Sebi has initiated collection proceedings against a large number of defaulters.