Karvy Stock Broking Limited KSBL

Eraaya Lifespaces share price was locked in the 5-per cent upper circuit for the 14th straight trading day on the BSE. It has zoomed 102% in the past 3 weeks

The government on Monday said Rs 414.24 crore has been paid to a total of 34,497 clients of Karvy Stock Broking Ltd (KSBL) from the National Stock Exchange's (NSE) investor protection fund till March 2023. In addition, NSE along with other market infrastructure institutions (MIIs) have also monetised the mutual fund distribution business of KSBL, and funds amounting to Rs 150 crore have been realized and the same is being utilized for distribution to clients of KSBL, Minister of State for Finance Pankaj Chaudhary said in a written reply to Lok Sabha. The case pertains to Karvy unauthorisedly transferring securities of its clients in one of its demat accounts by misusing Power of Attorney (PoA) given to its clients. NSE and BSE suspended trading terminals of KSBL from December 2, 2019 and declared it a defaulter on November 23, 2020 for misusing clients' funds and securities. Moreover, NSE has declared 32 stock brokers as defaulters in the past five years for failing to comply wit

Capital markets regulator Sebi on Wednesday levied a fine totalling Rs 75 lakh on Indian Clearing Corp Ltd (ICCL) and NSE Clearing Corp Ltd (NCL) for violating norms in the matter of Karvy Stock Broking Ltd (KSBL). In two separate orders, the regulator slapped a fine of Rs 50 lakh on ICCL and Rs 25 lakh on NSE Clearing Corporation. The order came after market watchdog initiated adjudication proceedings against ICCL and NSE Clearing Corp for alleged violation of provisions of Sebi's early warning mechanism (EWM) circular issued on December, 2018. Under the EWM circular, alerts triggered at one stock exchange / clearing corporation/ depository through early warning mechanism shall be immediately shared with other stock exchanges / depositories with respect to the stock broker / depository participant. It was observed that National Securities Depository Limited (NSDL) sent various alerts pertaining to KSBL to ICCL and NCL during February-November 2019. ICCL and NCL were required to .

The broking firm had misused securities from clients through unauthorised pledging which were used to raise funds from several banks

In an order on April 12, Sebi had slapped a penalty of Rs 3 crore on BSE and Rs 2 crore on NSE for "laxity" on their part in detecting misuse of clients' securities by KSBL

Brokerage misused securities worth Rs 2,300 crore belonging to more than 95,000 clients, says regulator

The agency obtained the audit report conducted by the National Stock Exchange (NSE) and the orders passed by the Securities and Exchange Board of India (Sebi)

The order came after Axis Bank challenged the communication issued on December 8, 2020 by NSE

As of July 2021, Karvy Stock Broking had 1.2 million folios and total asset under management (AUM) of Rs 9,261 crore

This is part of a money laundering investigation

ED conducts raids at multiple locations across India in Karvy Stock money laundering case

Franklin Templeton fiasco, brokers' default, outcomes of IL&FS & DHFL may be taken up during today's meet

The city police on Thursday arrested two senior executives of scam-hit Karvy Stock Broking for allegedly involving in diverting funds raised from banks by pledging clients' securities as collaterals

A case has been registered against Karvy Stock Broking Ltd promoter C. Parthasarathy and others for allegedly cheating ICICI Bank to the tune of Rs 563 crore.

C Parthasarathy was arrested for defaulting on a loan taken from the IndusIndbank in 2019 and diverting the fund to other bank accounts

IIFL Securities said it has begun activation of 1.1 million frozen Karvy Stock Broking's demat accounts and the account holders can now trade or invest on its platform

Axis Securities' customer base to swell from 2.5 mn to over 3.6 mn; IIFL says well poised to service demat customers from Day-1

Shares of IndusInd Bank have surged 47% in November - third-most among Nifty companies

The NSE has also declared the brokerage house as a defaulter and expelled from its membership with effect from November 23

To prove Karvy withdrew securities from your demat account, obtain a transaction statement