Sebi makes 'untraced defaulters' public now

Welcoming the Sebi move, Trade Unions Joint Action Committee (TUJAC) convener and banking expert Vishwas Utagi said: "It's a matter of serious concern how these entities and the individuals connected with them have abruptly gone off the radar, and must be probed

Mumbai: In a bizarre development, the Securities & Exchange Board of India (SEBI) has released a list of some nine Income-Tax (I-T) Department defaulters comprising companies and individuals, who have reportedly gone 'missing' and untraceable.

The matter came to light when the Sebi Recovery Officers attempted to serve the notices of demand on these defaulters against whom the Recovery Certificates have been drawn up.

Some of the defaulters who have to cough out unspecified amounts of dues, are missing for the past nearly two years, and some others untraceable for the past two weeks, from one or multiple addresses available with the market regulator. They are: MYNK1906 Industries India Ltd, with three known addresses, one at Vile Parle and two in south Mumbai; Inducon India Ltd., with two addresses, one each in south Mumbai and Andheri, (both untraceable since April 27, 2021).

There's Classic Press International Ltd., with two addresses in Goregaon suburb, but is said to be out of bounds since June 17, 2021.

Three others that are 'missing' since July 19, 2022 from multiple addresses are: Goodearth Financial Services Ltd, from Vile Parle east; Aci Infocom Ltd, operating from three addresses in Kandivali and three in Nariman Point; and Tejoomals Industries Ltd, not located at its sole address in Santacruz.

Rajendra Mining Spares Co. Ltd, working from two locations in Andheri east has gone untraceable since July 26, 2022; Gloria Leasing Ltd, operating from south Mumbai and Karjat in Raigad, not available since September 29, 2022.