The Securities and Exchange Board of India (SEBI) has released a list of nine Income Tax 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, as per the IANS report.
Some of the?defaulters?who have to cough up unspecified amounts of dues have been missing for the past nearly two years, and others have been untraceable for the past two weeks, from one or multiple addresses available with the market regulator.??
In the circular dated December 28, 2022, the defaulters on the list are:?MYNK1906 Industries India Ltd., with three known addresses, one at Vile Parle and two in south Mumbai; and 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 the Goregaon suburb, but it's said to be out of bounds since June 17, 2021.
Three others that have been "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, has not been available since September 29, 2022.
Dynavox Industries Ltd., functioning from two neighbouring locations in Worli, has gone missing since this month, December 6, 2022.
Earlier this year,?SEBI got its?first female chairperson?when Madhabi Puri Buch took up the post in March 2022.??
Welcoming the SEBI move, Trade Unions Joint Action Committee (TUJAC) Convenor and banking expert Vishwas Utagi said that it is "a matter of serious concern" how these entities and the individuals connected with them have abruptly gone off the radar and must be probed.
"These companies are liable to pay their dues and various government taxes... If they don't come forward, it will pave the way for SEBI to move other agencies and invoke relevant laws to attach and sell off these defaulters' assets to recover its outstanding amounts," Utagi told IANS.
Admitting to the 'untraceable defaulters', the SEBI said that it has not been able to serve the Notice of Demands on them "at their last known address".
The SEBI has 'advised' these defaulters to contact the Recovery Officer Srishti Ambokar by January 12, 2023?vide a letter or email.?
It has also appealed to the general public that if anybody has any knowledge on the whereabouts of these defaulters, they can write/email to the Recovery Officer by the same date, though in this era, no telephone numbers are provided.
Also Read:?5 Rights You Must Know As A Loan?Defaulter
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