Markets regulator SEBI has ordered recovery of over Rs 500 crore from defaulting and erring companies after upgrading of its powers two months ago.The government allowed the regulator on July 22 to pass orders like search and seizure, attachment of properties, arrest and detention of defaulters and issue directions to recover the wrongful gains made in contravention of laws.SEBI was also allowed to seek information from other regulators within the country and abroad with retrospective effect, paving way to collect details of cases pending for over 15 years.SEBI chairman UK Sinha said at a capital markets summit organised in Mumbai that they have frozen a whole number of bank accounts and assets worth over Rs. 500 crore since then.He said , to tackle the growing menace of ponzi schemes being floated as collective investment schemes, Sebi had also been given powers to crack down on illegal investment schemes floated by individuals as well.SEBI has also been allowed to seek information from other regulators within the country and abroad with retrospective effect, paving way to collect details of cases pending for over 15 years.