SEBI attaches bank accounts of Affiance directors
SEBI issued addendum attaching bank accounts of Affiance Industries Limited and nine directors under joint and several liability.
The bank account attachment reinforces SEBI's parallel actions across demat and MF accounts, targeting all identified sources of funds. Financial institutions must execute freezes swiftly and document compliance to avoid regulatory censure.
Retail and wholesale banks holding relationships with these individuals or entities face immediate operational compliance obligations.
Action Required
Implement bank account attachment orders and block outgoing transactions from named parties pending recovery clearance.
Bank account attachments are a core enforcement mechanism; failure to action creates direct regulatory exposure for banks.
Confirm bank account attachment procedures are triggered for Affiance Industries and named directors; validate KYC linkages and PAN-based holds are complete within SLA.
“SEBI addendum to Notice of attachment of Bank account for Recovery proceedings against Affiance Industries Limited (PAN: AAICA5323K) and its directors, jointly and severally.”