SEBI's dues recovery falls sharply to Rs 6,031 crore in FY23; Rs 1.02 lakh crore pending

In its annual report, the Securities and Exchange Board of India (SEBI) stated that the amount it recovered from dishonest market players fell to Rs 6,031 crore from the previous year's total of Rs 15,756 crore, a drop of 61.72 percent.

According to the market regulator's annual report published online on August 7th, the total amount of fines to be recovered is Rs 1.02 lakh crore. The CIS/DPI issues of PACL Ltd and Sahara India Commercial Corporation Ltd account for Rs 63,206 crore (or 61.7% of the total amount outstanding).

There are currently concurrent actions before many courts and court-appointed panels involving Rs 70,482.62 crore (or 68.7 percent of the total sum outstanding). According to the statement, in such circumstances, SEBI's recovery efforts are contingent on the directives or approvals of the relevant court or committee.

As a result, DTR dues have increased to Rs 73,287 crore in FY23 from Rs 67,228 crore in FY22, and SEBI has stated that recovering these amounts will be challenging. A debt that is DTR is one for which collection efforts have been made but have yielded no results. Some of these situations involve the accused being deceased, having no assets that can be seized, being impossible to locate, etc.

Acton during FY23