Mumbai: Market regulator Securities and Exchange Board of India (Sebi) is yet to recover penalties over Rs 103 crore imposed on individuals and entities till December, 2010.

According to Sebi, the defaulters list covers 864 cases with a total penalty of Rs 1,03,55,34,765.

Sebi issued adjudication orders on these cases between 2002 and 2010 and the concerned individuals and entities were asked to fork out monetary penalties. However, they had defaulted on furnishing the amount till December 31, 2010.

As per the data, 13 of the defaulters were fined at least Rs 1 crore or over.

The maximum default of Rs 15 crore is outstanding against one Rajkumar Basantani in a case where the adjudicating order came in November, 2008.

Basantani has another defaulter charge against him of Rs 1.35 crore related to a case where the order was passed in April, 2010.

Another big defaulter is Dinesh Chudasama who was asked to pay Rs 1.05 crore while adjudicating the case in August 2004.