Sebi attaches 19 properties of Wasankar group

NEW DELHI: Capital markets regulator Sebi has attached 19 properties of Maharashtra-based Wasankar group as part of efforts to recover dues worth over Rs 90 crore.

They include 11 real estate properties and 8 agriculture land parcels.

Sebi's Recovery Officer D V Sekhar has ordered attachment of 19 properties as the entities failed to pay the dues.

"...it is felt that the defaulters may dispose or transfer or alienate the assets with view to obstruct or delay the recovery proceedings, which needs to be prevented immediately by attaching the said assets," Sekhar said in his order dated July 23.

In January, a notice was issued by Sebi's Recovery Officer to six entities, including Wasankar Wealth Management Ltd, asking them to pay more than Rs 90 crore dues.

The five others were Prashant Jaidev Wasankar, Abhijeet Chaudhari, Vinay Wasankar, Mithila Wasankar and Bhagyashree Wasankar.

The dues along with returns, interest, costs and expenses were asked to be paid within 15 days from the date of the receipt, as per the notice issued on January 14.

Sebi has asked the group to furnish details of all movable and immovable properties and valuation reports of all the properties within two weeks.

Besides, it has to submit the complete list of all investors along with address, telephone number, bank details and the amount due in each scheme within one month.

Earlier, various bank and demat accounts of the defaulters were attached.