SEBI clarifies on list of untraceable entities under ‘difficult to recover’ category

Mumbai (Maharashtra) [India], August 11 (ANI): Financial markets regulator Securities and Exchange Board of India (SEBI) has clarified that the 120 entities it had listed as untraceable in the ‘difficult to recover’ category in its ‘Annual Report of 2022-23’ comprises only five companies while the rest are individuals.

The regulator also noted that the majority of the cases were over a decade old.

“All these cases are old cases pertaining to violations that were committed over a decade ago,” SEBI said on Thursday in a release.

The amount involved with regard to these 120 untraceable entities is Rs 17.82 crore, which according to SEBI is just 0.02 per cent of the total outstanding amount to be recovered.

As on March 31, 2023, there were 692 cases which are identified as ‘Difficult To Recover (DTR)’ with a total outstanding amount of Rs 73,287.1 crore.

SEBI has been disseminating data on the composition of Difficult To Recover cases from 2021-22 onwards through its Annual Report in order to enhance the transparency of its enforcement proceedings and in compliance with SEBI (Annual Report) Rules, 2021. (ANI)



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