look news india
SEBI unable to recover Rs 76 crore from 807 DRT cases: Market regulator Securities and Exchange Board of India (SEBI) has shown its inability to recover billions of rupees in various legal cases. SEBI has included dues of Rs 76,293 crore till the end of March 2024 in the “Difficult to Recovery – DRT” category. It has been clearly declared that recovery is difficult. Which is four percent more than last year.
The amount involved under DRT has increased from last year
A large part of the amount that Sebi has shown unable to recover is due to pending cases before court-appointed committees. Difficult to recover (DRT) means the amount whose recovery is not possible even after adopting all efforts. Sebi said in its annual report for the year 2023-24 that segregation of such DTR dues is purely an administrative function and in case of any change in the outcome of the DTRT, these recovery officers can recover the amount determined as DTR.
Recovery difficult in 807 cases
SEBI has listed 807 cases as DTR cases as of March 31, 2024, of which 36 cases are pending in state PID courts, National Company Law Tribunal (NCLT), National Company Law Appellate Tribunal (NCLAT), involving Rs 12,199 crore stuck. In addition, 60 cases are pending before court-appointed committees, involving Rs 59,970 crore at stake. These two categories account for 95 per cent of the total dues. While in respect of DTR certificates falling under the unsettled category, 140 relate to 131 individuals and nine relate to companies involving Rs 13.3 crore and Rs 15.7 crore respectively.
