The notice comes after
did not pay the fine imposed by Sebi through an order dated March 14.
The regulator has asked the firm to pay this amount within 15 days. In the event of non-payment of the dues, Sebi said it would recover the money by different modes such as attachment and sale of the company’s movable or immovable properties, attachment of bank account and arrest. It may even appoint a receiver for the management of its properties.
Sebi said the company cannot mortgage, charge or lease its properties except with the permission of the recovery officer.
On October 5, 2020, an arbitration proceeding was initiated against Future Group by Amazon before the SIAC. The arbitration proceeding was over Amazon’s objections to Future Group’s proposed Rs 25,000 crore deal with Reliance Industries to sell its retail business.
