Recovery Officer Orders Remittance of Dues from Accounts Held by Banks and Mutual Funds
A formal directive has been issued mandating banks and mutual funds across India to remit outstanding dues belonging to In House Productions Ltd., following an assessment by a Recovery Officer. The order concerns the recovery of liabilities against the company, which holds accounts and folios with the financial institutions.
The Recovery Officer’s proceedings relate to the attachment directed against various assets held by In House Productions Ltd. The demand specifies that all banks and mutual funds holding accounts or folios for the company must remit the current outstanding amount to SEBI.
According to the order, the original dues associated with the matter were ₹3,31,000.00 (Rupees Three Lakh and Thirty Thousand Only), which included interest, costs, charges, and other expenses. The current liability standing against In House Productions Ltd., as determined by the proceedings, stands at ₹4,29,000.00 (Rupees Four Lakh and Twenty-Nine Thousand Only).
The financial details of the recovery matter are summarized below:
| Financial Metric | Original Obligation Amount | Current Dues Amount |
|---|---|---|
| Company Name | In House Productions Ltd. | In House Productions Ltd. |
| Recovery Certificate Status | Attachement Directed (Proceedings No. 8732 & 8733 of 2022) | Current Liability Amount: ₹4,29,000.00 |
The directive instructs that the specified amount must be remitted from the Defaulter's accounts or by redeeming units in the folios held by In House Productions Ltd. The order emphasizes that this remittance is required to settle the current outstanding dues.
NAVKARCORP Stock Price Movement
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