Sebi seizes 26 properties of Utkarsha Plotters for raising funds illegally

To recover dues worth Rs 39 crore, markets regulator Sebi has ordered attachment of 26 properties of Utkarsha Plotters & Multi Agro Solutions India and its directors in a case related to illegal fund raising. The properties being attached are agricultural as well as non-agricultural land parcels, commercial shop and bungalow located in Maharashtra, the Securities and Exchange Board of India (Sebi) said in an order. The regulator also prohibited entities concerned "from taking any benefit under such disposal, transfer, alienation or charge in respect of the properties, which stands attached in execution of recovery certificate". The move comes after the markets regulator, in September, attached the bank and demat accounts of the company and its directors. However, they failed to pay dues. "Further, the amount available in the banks/value of holding in the demat accounts is approx Rs 2.49 lakh only as against the total dues of Rs 38.76 crore with returns due to investors, along with

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