Sebi chief Ajay Tyagi on Monday said it will soon come out with a circular to prevent incidents like Karvy Broking Services Ltd (KSBL), which had allegedly misused clients' securities.
Markets regulator Sebi's prompt action against Karvy Stock Broking Ltd (KSBL) has resulted in nearly 83,000 investors getting back their securities, which were illegally transferred by the broker to its own account and were even pledged without any authorisation.
In a major development, the National Stock Exchange of India Ltd (NSE) on Monday suspended Hyderabad-based financial services major Karvy Stock Broking Ltd’s trading licence for all segments due to non-compliance with exchange and Securities and Exchange Board of India (Sebi) norms.
ICRA said the rating downgrade is on account of lack of adequate information regarding the performance of Karvy Stock Broking and hence the uncertainty around its credit risk profile.
Investors across the country have complained on social media to the Prime Minister's Office, (PMO), Finance Ministry and markets regulator, and SEBI, seeking their payouts.
Mumbai: In a major order with regard to the IPO scam of 2003-2005, SEBI has barred Karvy Stock Broking Ltd (KSBL) from taking up any new assignment or launching new schemes for six months in
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