SEBI Says 96.7% DTR Cases Worth Rs70,918.8 Crore Pending before Courts, NCLT
Moneylife Digital Team 10 August 2023
Market regulator Securities and Exchange Board of India (SEBI), in a clarification, says 96.7% of the Rs73,287.1 crore outstanding to be recovered from the difficult to recover (DTR) category are pending before the courts and law tribunals. All these cases are old cases pertaining to violations committed over a decade ago, it added.
 
As on 31 March 2023, there were 692 cases which are identified as DTR with a total outstanding amount of Rs73,287.1 crore. "Out of 692 cases, 30 are pending on account of parallel proceedings before state protection of interest of depositors (PID) courts, National Company Law Tribunal (NCLT), National Company Law Appellate Tribunal (NCLAT) and 56 cases pending before court-appointed committees, with recovery dues amounting to Rs12,162.3 crore and Rs.58,756.5 crore, respectively."
 
 
Concerning the 120 entities listed as untraceable, SEBI says only five are companies and all others are individuals. The amount involved with regard to these 120 entities is Rs17.82 crore, which is 0.02% of the total outstanding amount to be recovered. Moreover, out of 120 entities, 97% or 116 cases are old, and the violation period dates back to over a decade ago, SEBI added.
 
The market regulator says it has been disseminating data on the composition of DTR cases from FY21-22 through its annual report to enhance transparency of its enforcement proceedings.
 
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