SEBI Orders Immediate Attachment of Accounts and Securities Against Defaulter Overholding ₹2.11 Lakh Debt
SEBI Initiates Recovery Action Over Outstanding Dues in Venus Power Ventures Matter
The Securities and Exchange Board of India (SEBI) has moved to enforce recovery proceedings against Ravi Swarajya Bahrathi, initiating the immediate attachment of his bank accounts and financial securities portfolios. This action stems from a defaulted amount owed under a specific recovery certificate related to Venus Power Ventures (India) Limited. The matter involves a total outstanding liability of ₹2,11,652/- plus associated costs.The SEBI Recovery Division Southern Regional Office issued the notices on June 8, 2026. These official attachments are part of a series designed to ensure the realization of the amount due from the defaulter. The proceedings underscore SEBI’s mandate to protect investors and ensure adherence to financial obligations.
Details of the Financial Obligations
The total recovery certificate amounted to ₹2,11,652/- (Rupees Two Lakh Eleven Thousand Six Hundred and Fifty-Two Only). This sum comprises several components related to a penalty imposed on November 9, 2021. The components detailed include:- Penalty: A principal amount of ₹2,00,000/- was levied by the Adjudicating Officer.
- Interest and Costs: An additional ₹10,652/- represents interest calculated at a rate of 12% p.a., running from November 9, 2021, to April 20, 2022.
- Recovery Cost: A nominal fee of ₹1,000/ was added for recovery costs.
Attachment of Bank and Post Office Accounts
A formal Notice of Attachment (Proceeding No. 15424 of 2026) has been issued to all banks and post offices in India. This order directs financial institutions to immediately attach all accounts held by Ravi Swarajya Bahrathi, whether singly or jointly.The attachment ensures that no debit is made from the specified accounts for the outstanding dues until further orders are received from the SEBI Recovery Officer. While debits are frozen, any credits into the account may still be allowed.
Financial institutions were also directed to provide detailed information regarding all accounts and lockers held by the defaulter within 15 days of receiving the notice. This includes furnishing account statements for the latest one year.
Seizure of Demat and Mutual Fund Holdings
In tandem with the bank attachment, a separate Notice of Attachment (Proceeding No. 15425 of 2026) has been issued to depositories like National Securities Depository Ltd. and Central Depository Services (I) Ltd. This notice targets all demat accounts and mutual fund folios held by the defaulter.Similar to the banking mandate, it is strictly ordered that no debit shall be made in these financial instruments until further instructions are given by SEBI. The total liability being addressed through this attachment remains at ₹2,11,652/-.
The notices emphasize compliance from all involved parties. Banks and depository institutions must provide detailed statements of the defaulter's holdings and confirm the attachment action within the stipulated 15-day period. These actions are taken under powers conferred by Section 28A (1), 11(2) (ia) of the SEBI Act, 1992.
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