SEBI Orders Massive Account Attachment Against Defaulter in DU Digital Technologies Trading Probe
The Securities and Exchange Board of India (SEBI) has issued strict notices mandating the attachment of all bank accounts, post office holdings, and demat/mutual fund folios belonging to Nayan Mahendrabhai Thakkar. The action stems from recovery proceedings related to trading activities involving DU Digital Technologies Limited, which is now known as DU Digital Global Limited.The regulatory move signals a severe crackdown on individuals involved in questionable market conduct surrounding the scrutinized scrip. The notice details specific dues owed by Mr. Thakkar and directs financial institutions across India to immediately freeze the specified accounts.
Banks and Post Offices Targeted for Recovery
SEBI has directed all banks in India and Head Postmasters across the country to attach all existing accounts held by Nayan Mahendrabhai Thakkar. This measure is pursuant to a Recovery Certificate No. 9183 of 2026, which was drawn up against him.The total amount due for recovery stands at ₹8,49,000.00. This sum is comprised of the penalty imposed by AO vide Order No. QJA/MN/IVD/ID7/31947/2025-26 dated December 31, 2025, amounting to ₹8,00,000.00.
The remaining dues include interest from January 2026 to June 2026 @ 1% p.m., which totals ₹48,000.00. A recovery cost of ₹1,000.00 is also included in the total attached amount.
Freeze on Bank and Post Office Transactions
The notices explicitly order that no debit shall be made in any of Mr. Thakkar's accounts to the extent of the total dues until further orders are issued by SEBI’s Recovery Officer. However, the notices clarify that any credits received into the specified accounts may still be allowed.Financial institutions serving as the recipient banks or post offices are required to provide detailed information within 15 days. This information must include copies of account statements for the latest one year and a confirmation of the attachment.
Demat Accounts and Mutual Fund Folios Attached
In parallel, SEBI has issued a separate notice targeting all mutual funds in India and clearing houses regarding the attachment of Mr. Thakkar's digital assets. The action concerns his demat accounts and mutual fund folios held with relevant institutions like National Securities Depository Ltd.As outlined by the Recovery Certificate No. 9183 of 2026, the total recovery target remains ₹8,49,000.00. This attachment order is executed under powers conferred by section 28A (1), 11(2) (ia) of the SEBI Act, 1992.
Similar to banking institutions, these financial service providers are mandated not to make any debits against the attached accounts or folios until further notice from the Recovery Officer. Credits into these digital assets may still be permitted.
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