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What to do in when sebi blocks bank account and financial tools


07-Jun-2023 (In Corporate Law)
Hi, This is on behalf of My father Shri chhote Lal Shukla he is working with a company m/s jaig poly mars in Jagdishpur Amethi UP. In 2007 company officials had miss lead him to sign some paper for PF account and make him the director of the company. By 2014 he has aware that he is serving as a director and sebi and another institutions had sent lots of paper to justify the director ship post. Now his bank account and other financial tools are blocked by sebi. Please suggest us for best way.
Answers (2)

Answer #1
903 votes
prior to blocking accounts SEBI must have issued show cause notice and shall have mentioned the reasons and under what provisions of SEBI regulations. Hence, we need to review the show cause notice issued by SEBI and the replies we have submitted. There would be some violations of SEBI regulations which the SEBI must have felt during their investigations. The case has to be properly represented before SEBI and the order is already been passed then appeal to be made before SAT.
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Advocate Bankim Mehta

Adv. Bankim Mehta

LawRato Mumbai | 200+ Answers
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Answer #2
918 votes
In order to be able to help you, we need to know the reason why his bank accounts have been blocked, is it for to company getting insolvent or a fraud by company because of which director's personal assets are being seized? All of this needs to be examined. Also, it is advised that he should resign from the board of the company with immediate effect
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Advocate Samrat Chaudhari

Adv. Samrat Chaudhari

LawRatoMumbai | 25+ Answers
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