SEBI attaches accounts in Affiance Industries recovery action
SEBI issued addendums attaching MF, demat, and bank accounts of Affiance Industries Limited and nine directors in recovery proceedings.
SEBI expanded recovery enforcement against Affiance Industries and its directors via attachment of bank, demat, and mutual fund accounts. The addendums signal continuing pursuit of joint and several liability for unpaid SEBI dues, reinforcing enforcement discipline in Indian securities markets.
Custodians, brokers, AMCs, and banks must action attachment orders promptly to avoid facilitating defaulter access to financial assets.
Action Required
Screen client and counterparty lists against the named entity and directors, and freeze related accounts as required.
Multi-account attachment against corporate and individual defaulters reflects SEBI's escalating recovery posture and creates operational obligations for market intermediaries.
Verify customer screening covers SEBI recovery lists including Affiance Industries and named directors; confirm attachment workflows across bank, demat, and MF operations are timely and evidenced.
“SEBI addendum to Notice of attachment of MF & Demat account in Recovery proceedings against Affiance Industries Limited (PAN: AAICA5323K) and its directors including Habib Sarkar, Morshed Mehedi Hossain, and others jointly and severally.”