SEBI attaches Mehul Choksi’s bank, demat, and MF accounts to recover  over 2cr dues –

The Securities and Exchange Board of India (SEBI) has ordered the attachment of fugitive​ businessman Mehul Choksi’s bank accounts, mutual funds and shares​ to recover over​ two crore rupees. The amount is related to a penalty imposed on him for violating insider trading rules in the shares of Gitanjali Gems. ​ Mr. Choksi, who was the Chairman and Managing Director of Gitanjali Gems, is accused of sharing unpublished price-sensitive information​ with an associate. Based on that information, the associate​ had sold off his entire 5.75 per cent stake in the company in 2017, allegedly to avoid losses before details of fraudulent activities involving the company became public. In 2022, the SEBI had fined ​Mr. Choksi 1.5 crore rupees and banned him from trading in the securities market for one year. However, Mr. Choksi did not pay the fine, prompting the SEBI to issue a demand notice last month. The ​fugitive​ businessman​ has failed to make the payment,​ leading to ​​the attachment of his assets​ by ​the market regulator.