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of <h1>Section 28A of SEBI Act empowers Recovery Officers to reclaim unpaid dues using property and bank account attachments.</h1> Section 28A of the Securities and Exchange Board of India Act, 1992, introduced by the Securities Laws (Amendment) Act, 2014, outlines the recovery process for unpaid penalties, refunds, disgorgement orders, or fees owed to the Board. A Recovery Officer is authorized to recover amounts through methods such as property attachment and sale, bank account attachment, arrest, or appointing a receiver. The provisions of the Income-tax Act, 1961, apply with necessary modifications. Transferred assets to family members without adequate consideration are included in recoverable assets. The Recovery Officer's actions take precedence over other claims, and they may seek local administration assistance.
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