Page 4 - Karvy Stock Broking Limited Ksbl
Karvy fiasco: SAT grants no relief to banks on wrongly pledged securities
Tribunal raps lenders for taking time to approach it, says plea to recall shares transferred to about 83,000 of Karvy's clients or to freeze them is "untenable"
 "Karvy fiasco: SAT grants no relief to banks on wrongly pledged securities")
Top Headlines: Pichai named Alphabet's CEO, Chidambaram gets bail and more
Google CEO Indian-American Sundar Pichai (47), is set to assume the role of Alphabet CEO
 "Top Headlines: Pichai named Alphabet's CEO, Chidambaram gets bail and more")
Karvy crisis: SAT refuses relief to lenders, asks to approach Sebi by Dec 6
The private sector banks joined the petition on Tuesday and there was a lengthy hearing
SAT asks NSE to take a decision on Karvy's licence suspension by Friday
This comes after Karvy moved to SAT against the NSE's directive which suspended the broker's licence on Monday due to non-compliance of regulatory provisions of the exchange
Karvy crisis: Sebi gives time to six brokers to wind up client accounts
Sebi wants these brokers to remove the pledges and return the shares to the clients (those who paid the dues)
Banks move SAT against NSDL's decision to transfer Karvy's securities
HDFC Bank had Rs 470 crore worth of shares pledged for Rs 300 crore of outstanding loans
 "Banks move SAT against NSDL's decision to transfer Karvy's securities")
SAT asks NSDL to hold back remaining stocks of Karvy Broking clients
Issuing an interim stay, a two-member SAT bench comprising MT Joshi and CKG Nair said the final order will be issued Wednesday afternoon
Karvy fiasco: NSDL's decision to transfer securities puts lenders in a spot
NSDL has transferred securities, against which loans were given, to clients
Karvy Fintech renames itself, appoints M V Nair as non-executive chairman
KFin Tech has also appointed MV Nair as the non-executive chairman the company with immediate effect
Sebi denies Karvy's plea to use PoA, cites illegal transfer of client money
The markets watchdog further said clients of Karvy who seek to sell securities through the broker may do so by using electronic or physical Delivery Instruction Slip only
90% Karvy investors get back their securities due to prompt Sebi action
Of the 95,000 clients, nearly 83,000 of them have got back their securities, which were illegally transferred by the KSBL to its own account
No interim relief for Karvy as Sebi refuses permission to enrol new clients
The Securities and Exchange Board of India (Sebi) order also highlighted the alleged misuse of power of attorney (PoA) by Karvy
NSE suspends Karvy Stock Broking's license due to non-compliance
Last month, capital market regulator Sebi had banned the brokerage firm from taking new clients and executing trades for misusing clients' funds.
 "NSE suspends Karvy Stock Broking's license due to non-compliance")
Lessons from Karvy fiasco: Solution lies in better implementation of rules
What's required is proper implementation of the rules and better coordination between market intermediaries such as stock exchanges and clearing members who play a key role in monitoring brokerages
Misuse of client funds: SAT asks Sebi to review order issued against Karvy
The Sebi counsel informed the tribunal about the forensic audit initiated against the brokerage
Karvy case: SAT asks Sebi to review limited use of power of attorney issue
Sebi's directive had come after the National Stock Exchange forwarded a preliminary report to it on the non-compliances observed with respect to pledging/misuse of client securities by Karvy
 "Karvy case: SAT asks Sebi to review limited use of power of attorney issue")
Barings Asia looks to exit investment after Karvy comes under Sebi lens
Indian lenders, which have an exposure of Rs 2,900 crore in Karvy group companies, are taking legal advice on how to enforce the collateral taken from Karvy
Top events today: Sept GDP numbers, Yes Bank to consider fundraising & more
From September GDP data, SAT hearing on Karvy ban by Sebi to opposition parties and academicians attending slowdown conclave, Business Standard brings you the top news events of the day.
 "Top events today: Sept GDP numbers, Yes Bank to consider fundraising & more")
Top 10 biz headlines: NBFCs bailout likely, sops in Maharashtra & more
From credit card spending to RIL's Rs 10-trillion m-cap, Business Standard brings you the top business headlines of the day
 "Top 10 biz headlines: NBFCs bailout likely, sops in Maharashtra & more")
Karvy Stock Broking moves SAT against Sebi order; hearing on Friday
Karvy will be represented by Vikram N of Visesha Law Services, according to the cause list put out by SAT.
