Karvy Stock Broking indulged in activities which were never allowed: SEBI chief Ajay Tyagi
5 years, 1 month ago

Karvy Stock Broking indulged in activities which were never allowed: SEBI chief Ajay Tyagi

Firstpost  

Mumbai: In the aftermath of Karvy Stock Broking episode, capital market watchdog SEBI on Wednesday said the brokerage was indulging in activities which were “never allowed”. Last Friday, SEBI barred Karvy from taking new clients with respect to stock broking activities for alleged misuse of clients’ securities. The action followed leading bourse NSE forwarding a preliminary report to SEBI on the non-compliances observed with respect to the pledging/misuse of client securities by Karvy Stock Broking. In a 12-page ex-parte interim order, SEBI Whole Time Member Ananta Barua said there was a “need for urgent regulatory intervention to prevent further misuse of clients’ securities”.

Stock Securities Sebi Clients Tyagi Ksb Karvy Karvy Stock Broking Ksbl  activities  respect  clients  broking  stock  indulged  chief  order  securities  tyagi  ajay  karvy  ksbl  allowed  sebi

History of this topic

Sebi bans Ketan Parekh, 2 others from securities markets over involvement in front-running scheme
6 days, 14 hours ago

Sebi bans Ketan Parekh, 2 others from securities markets over involvement in front-running scheme

Live Mint  

Markets regulator Sebi on Thursday barred three individuals, including Ketan Parekh, from the securities markets with immediate effect for their alleged involvement in a front-running scheme which generated illegal gains of ₹65.77 crore. The regulator also restrained Ketan Parekh, Rohit Salgaocar and Ashok Kumar Poddar from associating with any intermediary registered with Sebi, either directly or indirectly, with immediate effect. …

Sebi cracks down on Ketan Parekh in new front-running case
Trending News
6 days, 15 hours ago

Sebi cracks down on Ketan Parekh in new front-running case

Live Mint  

Mumbai: India’s market regulator said it has uncovered an alleged front-running scheme involving Ketan Parekh, convicted in 2008 for stock market manipulation, and Rohit Salgaocar, whose company facilitated these “illicit” trades that led to unlawful gains of ₹65.77 crore. Role of key accused “The evidence gathered, including digital footprints, WhatsApp chats, phone calls, and Bloomberg messages, suggests that Ketan Parekh …

Sebi halts trading in Bharat Global Developers over suspected stock price manipulation
Trending News
2 weeks, 3 days ago

Sebi halts trading in Bharat Global Developers over suspected stock price manipulation

Live Mint  

The market regulator has suspended trading in Bharat Global Developers Ltd’s shares until further notice over allegations of fraudulent activities and false disclosures in a rare such action. "The shocking falsities presented by BGDL as legally required disclosures to the exchange expose a clear fraudulent scheme," said Sebi's order, authored by whole-time member Ashwani Bhatia. Regulator's scrutiny Citing Sebi's proactive …

Sebi against exuberance, price manipulations in SME listings; board to discuss it soon: WTM Bhatia
3 weeks, 1 day ago

Sebi against exuberance, price manipulations in SME listings; board to discuss it soon: WTM Bhatia

Live Mint  

Mumbai, Dec 17 Capital markets regulator Sebi wants to prevent exuberance, price manipulations and fraudulent trading practices on the Small and Medium Enterprises exchange, a senior official said on Tuesday. Addressing the India SME Banking Summit here, Whole Time Member Ashwani Bhatia said the regulator's board will be taking up the issue at its forthcoming meeting. "We are cognisant of …

SEBI Warns Against Trading Unlisted Securities on Unauthorized Platforms
4 weeks, 2 days ago

SEBI Warns Against Trading Unlisted Securities on Unauthorized Platforms

Deccan Chronicle  

The Securities and Exchange Board of India has issued a cautionary advisory to investors, warning against trading in securities of unlisted public limited companies on unauthorized electronic platforms.In a statement, SEBI highlighted that certain electronic platforms and websites have been facilitating such transactions, which violates the Securities Contract Act, 1956, and the SEBI Act, 1992. These laws are intended to …

SEBI Proposes Amendments To Handle Securities Law Violations By Intermediaries Through Summary Proceedings
5 months, 3 weeks ago

SEBI Proposes Amendments To Handle Securities Law Violations By Intermediaries Through Summary Proceedings

Live Law  

The Securities and Exchange Board of India has issued a consultation paper proposing amendments to the SEBI Regulations, 2008 which introduces provisions for summary proceedings to handle specific types of securities law violations by intermediaries. The introduction of summary proceedings addresses issues observed in the current regulatory framework. However, SEBI has noted an increased number of violations by other intermediaries, …

Relief for Sebi as SC stays SAT order in Karvy Stock Broking case
11 months, 2 weeks ago

Relief for Sebi as SC stays SAT order in Karvy Stock Broking case

Live Mint  

New Delhi: The Supreme Court on Thursday stayed the Securities Appellate Tribunal's order in response to a plea filed by the Securities and Exchange Board of India in the Karvy Stock Broking case. The plea contested SAT's previous ruling, which had favoured major lenders such as Axis Bank, ICICI Bank, HDFC Bank, IndusInd Bank, and Bajaj Finance. Sebi and others …

IIFL Securities shares tank over 18% on Sebi order
1 year, 6 months ago

IIFL Securities shares tank over 18% on Sebi order

Live Mint  

IIFL Securities share price plunged over 18% in early deals on Tuesday after capital market regulator Securities and Exchange Board of India barred the company from taking new clients for 2 years. However, IIFL Securities said that the Sebi’s order does not affect the company's existing business with the existing clients. Read Here: SEBI bars IIFL Securities from taking new …

Explained | How is the stock market regulated in India?
1 year, 10 months ago

Explained | How is the stock market regulated in India?

The Hindu  

The story so far: On February 10, the Supreme Court asked the Securities and Exchange Board of India and the government to produce the existing regulatory framework in place to protect investors from share market volatility. The SCRA empowers SEBI to recognise stock exchanges, prescribe rules and bye laws for their functioning, and regulate trading, clearing and settlement on stock …

SEBI's New Norms to Prevent Brokers From Retaining Investors' Money at End of Trading Day
1 year, 11 months ago

SEBI's New Norms to Prevent Brokers From Retaining Investors' Money at End of Trading Day

News 18  

The Securities and Exchange Board of India, the regulatory body that monitors the activities of the stock market, has taken a big step to eliminate the possibility of misuse of investors’ money by financial brokers. SEBI has proposed to prohibit trading members and ‘clearing’ members from holding investor money till the end of the day and return the entire amount …

Sebi’s plan to separate brokers from your money
2 years ago

Sebi’s plan to separate brokers from your money

Live Mint  

In the third week of October, brokers from across India had gathered at the Taj Lands End hotel in Mumbai for their first mega physical gathering since the onset of the pandemic. If Sebi’s plans go ahead, brokers will only execute buy or sell trades and no money from an investor’s bank account will go into a broker’s account. How …

Opinion | Deciphering the new margin rules
4 years, 3 months ago

Opinion | Deciphering the new margin rules

Live Mint  

Karvy Stock Broking Ltd. fiasco saw the brokers breach their clients' trust by illegally pooling securities across clients without any authorization. The episode compelled the Securities and Exchange Board of India to ban the pooling system in February 2020 and direct the brokers to maintain individual accounts for clients. The new system aims to safeguard clients' interest as doing away …

Sebi asks brokers, fund houses, others to ensure compliance with prevention of unlawful acts
4 years, 10 months ago

Sebi asks brokers, fund houses, others to ensure compliance with prevention of unlawful acts

India TV News  

Capital markets regulator Sebi on Tuesday asked stock brokers, mutual fund houses and other market intermediaries to ensure strict compliance with the prevention of unlawful activities law. In a statement, Sebi advised market intermediaries to ensure compliance with instructions pertaining to UAPA or The Unlawful Activities Act. In addition, the regulator has asked market entities to ensure that accounts are …

Sebi rejects Axis Bank's plea in Karvy Stock Broking matter
4 years, 11 months ago

Sebi rejects Axis Bank's plea in Karvy Stock Broking matter

India TV News  

Markets regulator Sebi has rejected Axis Bank's plea to allow the lender to invoke the pledge on shares in the Karvy Stock Broking Ltd matter. As per the data provided by NSE, securities pledged by KSBL in favour of Axis Bank belonged to its fully paid as well as partly or unpaid clients. Regarding pledging of securities of fully paid …

Karvy Group names new head for financial services arm
5 years ago

Karvy Group names new head for financial services arm

Live Mint  

BENGALURU: India's Karvy Group said on Tuesday it has appointed a new head of its financial services unit as part of corporate restructuring, a month after the country's market regulator slapped a ban on its stock broking arm for alleged misuse of client funds. Karvy named Amitabh Chaturvedi as group chief executive officer of its financial services arm with a …

After Karvy debacle, banks begin review of brokerage exposures
5 years, 1 month ago

After Karvy debacle, banks begin review of brokerage exposures

Live Mint  

Mumbai: The Karvy Stock Broking debacle and the ensuing loss of securities underlying their secured credit have forced lenders, especially banks, to review their exposure to brokerage firms, three people with direct knowledge of the matter said. Fearing that more secured loans could turn unsecured if the loans are backed by client securities, these lenders have sent out letters to …

Explained: What is the Karvy stock scandal all about?
5 years, 1 month ago

Explained: What is the Karvy stock scandal all about?

The Hindu  

The story so far: On November 22, the Securities and Exchange Board of India passed an ex parte ad interim order against Karvy Stock Broking, a Hyderabad-based firm, prohibiting it from taking new clients in respect of its stock broking activities. While it is estimated that a total of around 95,000 clients of Karvy Stock Broking have been affected, the …

Karvy case: SAT asks NSE to decide on revoking stock broker firm's license by 6 December
5 years, 1 month ago

Karvy case: SAT asks NSE to decide on revoking stock broker firm's license by 6 December

Firstpost  

New Delhi: The Securities Appellate Tribunal has asked the NSE to take a decision by Friday in the matter of suspension of trading licence of Karvy Stock Broking Ltd. The National Stock Exchange in its report to SEBI on 22 November had said that Karvy was misusing the clients’ securities and various other misappropriation of the clients’ securities. Following this, …

Big relief in Karvy case: 90% investors get back their securities on prompt SEBI action
5 years, 1 month ago

Big relief in Karvy case: 90% investors get back their securities on prompt SEBI action

Firstpost  

Markets regulator SEBI’s prompt action against Karvy Stock Broking Ltd 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 New Delhi: Markets regulator SEBI’s prompt action against Karvy Stock Broking Ltd has resulted in nearly 83,000 investors getting back their securities, …

Karvy Stock Broking refutes claims it has defaulted on Rs 2,000 cr loans; says owes around Rs 50 cr to clients: Report
5 years, 1 month ago

Karvy Stock Broking refutes claims it has defaulted on Rs 2,000 cr loans; says owes around Rs 50 cr to clients: Report

Firstpost  

Karvy Broking has been given 21 days time from the date of receiving the order to file its objections or responses, if any In a latest development, Karvy Stock Broking Ltd has denied having defaulted on loans. After a major scandal hit the stock markets with the brazen modus operandi of misusing clients’’ funds, the Securities and Exchange Board of …

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