SAT directs Sebi to pass fresh order on Karvy in IPO scam case
10 years, 2 months ago

SAT directs Sebi to pass fresh order on Karvy in IPO scam case

Firstpost  

In March 2014, Sebi had barred Karvy Stock Broking from taking up new assignment or launching new schemes for six months as a stock broker. Mumbai: Setting aside a Sebi ruling against Karvy Stock Broking, the Securities Appellate Tribunal has asked the regulator to pass a fresh order within four months in the matter related to IPO scam that happened during 2003-2005 period. On the appeal filed by Karvy Stock Broking, the tribunal has asked Sebi to pass a fresh order in the matter since the market regulator did not permit the brokerage to cross-examine Bharat Overseas Bank’s Ahmedabad branch manager Devi Dutt in the case. Setting aside Sebi order, the tribunal said the regulator’s action of not providing Karvy Stock Broking opportunity to cross-examine Dutt was in “violation of the principles of natural justice”.

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History of this topic

Madhabi Puri Buch case: Bombay HC stays order directing FIR against former SEBI chief, others
Trending News
3 weeks, 6 days ago

Madhabi Puri Buch case: Bombay HC stays order directing FIR against former SEBI chief, others

The Hindu  

The Bombay High Court on Tuesday stayed a Mumbai sessions court order for four weeks that directed the Anti-Corruption Bureau to register an FIR against the former Securities and Exchange Board of India Chairperson Madhabi Puri Buch and five other SEBI and Bombay Stock Exchange officials in an alleged stock market fraud, regulatory violations, and corruption linked to the listing …

Bombay High Court halts Maharashtra ACB action against ex-SEBI chief Madhabi Puri Buch, others till March 4
4 weeks ago

Bombay High Court halts Maharashtra ACB action against ex-SEBI chief Madhabi Puri Buch, others till March 4

The Hindu  

The Bombay High Court on Monday asked the Anti-Corruption Bureau not to act on a Mumbai sessions court order to register an FIR against former Securities and Exchange Board of India Chairperson Madhabi Puri Buch and five others, until March 4, 2025. The sessions court on March 1, 2025 directed the ACB to register a First Information Report against Buch …

Bombay HC to hear pleas of ex-Sebi chief, others on March 4; ACB to not act on special court order until then
Top News
4 weeks ago

Bombay HC to hear pleas of ex-Sebi chief, others on March 4; ACB to not act on special court order until then

Live Mint  

The Bombay High Court is set to hear the pleas of the former Sebi chief and others on March 4, the Anti-Corruption Bureau will not proceed with the special court order until then, reported PTI. The development comes after the market regulator informed to initiate legal action against the court order alleging ex-SEBI Chief Madhabi Puri Buch and five others …

Bombay HC grants urgent hearing on FIR order against ex-Sebi chief Madhabi Puri Buch, others
4 weeks ago

Bombay HC grants urgent hearing on FIR order against ex-Sebi chief Madhabi Puri Buch, others

Live Mint  

The Bombay High Court has granted an urgent hearing for SEBI and BSE's challenge against an FIR involving allegations against ex-SEBI chief Madhabi Puri Buch and five other officials over regulatory violations and stock market violations, according to a CNBC TV-18 report. On Saturday, March 1, a special Anti-Corruption Bureau court in Mumbai ordered the registration of an FIR against …

'Prima Facie Evidence Of Regulatory Lapses' : Court Orders FIR Against Ex-SEBI Chief Madhabi Puri Buch & BSE Officials
4 weeks, 1 day ago

'Prima Facie Evidence Of Regulatory Lapses' : Court Orders FIR Against Ex-SEBI Chief Madhabi Puri Buch & BSE Officials

Live Law  

A Special Court in Mumbai on Saturday ordered the Anti-Corruption Bureau, Mumbai to register a FIR against former Securities and Exchange Board of India SEBI) chairperson - Madhabi Puri Buch and also three of its "whole time members" and the top brass of the Bombay Stock Exchange, Special Judge passed the order in an application under Section 156 Cr.P.C. Special …

SEBI to challenge Mumbai Court’s corruption probe FIR order on ex-Chief Madhabi Puri Buch
4 weeks, 1 day ago

SEBI to challenge Mumbai Court’s corruption probe FIR order on ex-Chief Madhabi Puri Buch

Live Mint  

The Securities and Exchanges Board of India, on Sunday, March 2, announced that they will initiate appropriate legal action over the corruption court order, which involves an allegation of involvement of SEBI's ex-Chief Madhabi Puri Buch and five other officials into an irregularity in granting listing permission to a firm, according to an official press release. “SEBI would be initiating …

Stock market 'fraud': Court orders FIR against ex-Sebi chief Madhabi Puri Buch, 5 others
Top News
4 weeks, 1 day ago

Stock market 'fraud': Court orders FIR against ex-Sebi chief Madhabi Puri Buch, 5 others

Deccan Chronicle  

Mumbai, March 2: A special court here has directed the Anti-Corruption Bureau to register an FIR against former Sebi chairperson Madhabi Puri Buch and five other officials in connection with alleged stock market fraud and regulatory violations. Apart from Buch, the other officials against whom the court has ordered registration of the FIR are BSE's Managing Director and Chief Executive …

Court orders FIR against ex-Sebi boss Madhabi Puri Buch, five others in alleged stock market fraud
Top News
4 weeks, 1 day ago

Court orders FIR against ex-Sebi boss Madhabi Puri Buch, five others in alleged stock market fraud

New Indian Express  

MUMBAI: A special Anti-Courrption Bureau court here directed the Mumbai Police to file an FIR against former Sebi chairperson Madhabi Puri Buch and five senior officials of the Bombay Stock Exchange in connection with alleged stock market fraud and regulatory violations. The court was hearing a petition filed by Thane-based journalist Sanap Srivastav alleging financial fraud, regulatory violations, and corruption …

Mumbai court directs case against Madhabi Buch, top Sebi, stock market officials
4 weeks, 1 day ago

Mumbai court directs case against Madhabi Buch, top Sebi, stock market officials

India Today  

A special Anti-Corruption court in Mumbai on Saturday ordered the registration of an FIR against top officials of the Securities and Exchange Board of India including former Sebi Chairperson Madhabi Puri Buch and Bombay Stock Exchange in a case of alleged stock market fraud and regulatory violations. The complainant contended that Sebi officials failed in their statutory duty, facilitated market …

Sebi says will challenge order directing case against Madhabi Buch, others
4 weeks, 1 day ago

Sebi says will challenge order directing case against Madhabi Buch, others

India Today  

The Securities and Exchange Board of India on Sunday said that it will soon initiate legal steps to challenge the special Anti-Corruption court which directed an FIR to be filed against former chairperson Madhabi Puri Buch and other officials in connection with alleged stock market fraud and regulatory violations. SEBI would be initiating appropriate legal steps to challenge this order …

Front running case: Sebi bans 2 persons from securities market for 6-month
2 months ago

Front running case: Sebi bans 2 persons from securities market for 6-month

Live Mint  

New Delhi, Markets regulator Sebi on Tuesday restrained two persons from the securities market for six months and directed them to disgorge ₹34.26 lakh "wrongful gains" made by them through their involvement in front-running activities. Ltd. in the cash market and equity derivatives segments of NSE by its dealer Kadam in the trading account of Bhatkar based on the impending …

SAT upholds Sebi’s order halting trading of Trafiksol ITS Technologies
2 months, 1 week ago

SAT upholds Sebi’s order halting trading of Trafiksol ITS Technologies

Live Mint  

The Securities Appellate Tribunal has upheld the Securities and Exchange Board of India’s decision, ordering Trafiksol ITS Technologies Ltd to refund ₹45 crore to investors and halt its share listing. This ruling follows Sebi’s 3 December order, which found the company in violation of multiple regulations related to its SME initial public offering. The decision comes after Sebi’s investigation uncovered …

SEBI plans new measures for IPO trading amid surge in first-time share sales
2 months, 1 week ago

SEBI plans new measures for IPO trading amid surge in first-time share sales

Hindustan Times  

India’s securities market regulator is considering steps to formalize trading in initial public offerings where bidding has closed, but the shares are yet to be listed. Madhabi Puri Buch, the chairwoman of the Securities and Exchange Board of India, stated that investors who get allocations may be permitted to exchange their right to those shares before the listing. The Securities …

Sebi settles adjudication proceedings against Paytm executives
2 months, 1 week ago

Sebi settles adjudication proceedings against Paytm executives

Live Mint  

Mumbai: Markets regulator Securities and Exchange Board of India has settled adjudication proceedings against several executives and independent directors of One97 Communications Ltd, the parent of fintech firm Paytm, for alleged violations of securities laws. The adjudication proceedings stemmed from concerns raised by Sebi in July 2023 regarding the actions of Amit Khera, Paytm’s then-compliance officer and company secretary, as …

Sebi bans Ketan Parekh, 2 others from securities markets over involvement in front-running scheme
2 months, 4 weeks 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
2 months, 4 weeks 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 suspends Bharat Global trading after stock rally 10,000 per cent in one year
Trending News
3 months, 1 week ago

Sebi suspends Bharat Global trading after stock rally 10,000 per cent in one year

New Indian Express  

MUMBAI: The market regulator Sebi has ordered the suspension of trading in Bharat Global Developers’ stocks, which have surged more than 10,000 per cent in the past year. The decision came after it was discovered that the company had falsely claimed to have secured large orders from marquee corporates like Reliance, Tata Group, UPL, and McCain India Agro. In a …

Sebi board likely to tighten SME listing norms
3 months, 2 weeks ago

Sebi board likely to tighten SME listing norms

New Indian Express  

Late October the Sebi said it would come out with a discussion paper aimed at finalising some measurers to tighten the regulatory framework for SME IPOs. In a stern action on December 3, the Sebi cancelled the issue by Trafiksol ITS Tech and ordered the company to refund the Rs 45 crore collected through the issue to investors within a …

Supreme Court refuses to curtail Calcutta Stock Exchange’s extension for Sebi compliance
3 months, 3 weeks ago

Supreme Court refuses to curtail Calcutta Stock Exchange’s extension for Sebi compliance

Live Mint  

The Supreme Court has declined to intervene in the Calcutta High Court’s decision to give the Calcutta Stock Exchange, India’s oldest stock exchange, more time to comply with the Securities and Exchange Board of India’s 2012 Exit Policy. The court said it would review CSE’s compliance with the Exit Policy at the next hearing on 7 March 2025. Sebi had …

SEBI imposes ₹9 lakh penalty on Reliance Securities for breaching market, stock broker norms
4 months ago

SEBI imposes ₹9 lakh penalty on Reliance Securities for breaching market, stock broker norms

Live Mint  

Capital markets regulator Securities and Exchange Board of India on Friday, November 29, penalized Reliance Securities with ₹9 lakh for flouting market norms and stock broker rules. The order came after the regulator and exchanges, NSE and BSE, conducted a thematic onsite inspection of the books of accounts, records, and other documents of authorised persons of Reliance Securities Ltd, a …

SC dismisses Sebi’s ₹25 crore penalty plea against Mukesh Ambani in RPL share manipulation case
4 months, 2 weeks ago

SC dismisses Sebi’s ₹25 crore penalty plea against Mukesh Ambani in RPL share manipulation case

Live Mint  

The Supreme Court on Monday dismissed a plea by the Securities and Exchange Board of India to impose a ₹25 crore penalty on Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, over alleged share manipulation involving Reliance Petroleum Ltd in November 2007. A two-judge bench of Justices J.B. Pardiwala and R. Mahadevan agreed to hear Sebi's broader case …

Sebi imposes ₹11 lakh penalty on IIFL Securities for violating stock broker regulations
7 months, 1 week ago

Sebi imposes ₹11 lakh penalty on IIFL Securities for violating stock broker regulations

Live Mint  

Capital market regulator Sebi on Wednesday slapped a fine of ₹11 lakh on brokerage firm IIFL Securities for flouting stock broker rules and other regulatory norms. Sebi conducted an inspection of IIFL Securities Ltd covering the period from April to July 2022 to assess the firm’s adherence to regulatory requirements. In its 35-page order, Sebi noted that IIFL Securities acknowledged …

SEBI’s Buch Under Pressure: Can India’s Market Watchdog Chief Weather the Storm?
7 months, 2 weeks ago

SEBI’s Buch Under Pressure: Can India’s Market Watchdog Chief Weather the Storm?

The Hindu  

Published : Aug 16, 2024 20:42 IST - 8 MINS READ When the Satyam scam came to light in January 2009, it was a bolt from the blue for India’s stock market. The report accuses Buch of investing in an offshore Mauritius fund that’s part of the very fund structure being probed by SEBI for its fund flows into Adani …

'Dishonest, Misleading': SEBI Rejects Defence And Mandates Disclosure, Shareholder Approval For Material Related Party Transactions
8 months ago

'Dishonest, Misleading': SEBI Rejects Defence And Mandates Disclosure, Shareholder Approval For Material Related Party Transactions

Live Law  

The Securities and Exchange Board of India has issued a final order concerning Linde India Limited and its related party transactions with Praxair India Pvt Ltd and Linde South Asia Services Pvt Ltd. SEBI's investigation was triggered by complaints from LIL's shareholders who alleged that these RPTs were conducted without proper shareholder approval and were potentially detrimental to the interests …

SEBI Proposes Amendments To Handle Securities Law Violations By Intermediaries Through Summary Proceedings
8 months, 2 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, …

Eros International moves SAT against Sebi’s order in fund diversion matter
9 months ago

Eros International moves SAT against Sebi’s order in fund diversion matter

Live Mint  

Mumbai: Media company Eros International, along with its key executive officials, on Friday moved the Securities Appellate Tribunal against the Securities and Exchange Board of India’s October 2023 restraint order in an alleged fund diversion matter. The market regulator in its order had restrained vice chairman Sunil Lulla from holding the position of a director or a key managerial personnel …

Relief for Sebi as SC stays SAT order in Karvy Stock Broking case
1 year, 2 months 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 …

Shielding SEBI: On Supreme Court’s ruling and SEBI probe
1 year, 2 months ago

Shielding SEBI: On Supreme Court’s ruling and SEBI probe

The Hindu  

The Supreme Court of India’s ruling on a batch of petitions, filed in the wake of a U.S.-based short seller’s allegations of malfeasance including stock price manipulation at the Adani group of companies, has squarely tossed the ball back to the markets regulator’s court. The Court has opted to subordinate petitioners’ entreaties to protect larger public interest to its chariness …

SEBI sets conditions for National Stock Exchange IPO. These are…
1 year, 3 months ago

SEBI sets conditions for National Stock Exchange IPO. These are…

Hindustan Times  

The Securities and Exchange Board of India has laid down some important conditions for the National Stock Exchange's proposed initial public offering, media reports said on Monday. According to Zee Business, the NSE had filed its draft papers for the IPO with SEBI in December 2016, with a plan to raise ₹10,000 crore from the public issue, which was planned …

IIFL Securities shares tank over 18% on Sebi order
1 year, 9 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 …

Zee Promoters Approach Securities Appellate Tribunal Against SEBI Order: Report
1 year, 9 months ago

Zee Promoters Approach Securities Appellate Tribunal Against SEBI Order: Report

ABP News  

The promoters of Zee Entertainment Enterprises Ltd have approached the Securities Appellate Tribunal to seek relief against the SEBI's order on Tuesday. Shares of Zee Entertainment Enterprises fell over 6.50 per cent in morning trade on Tuesday after SEBI banned Essel Group chairman Subhash Chandra and ZEEL's Punit Goenka from holding any directorial or key managerial position in any listed …

Explained | How is the stock market regulated in India?
2 years, 1 month 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 plan to separate brokers from your money
2 years, 3 months 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 …

Stock Broker Should Obtain A Certificate Of Registration From SEBI For Each Of The Stock Exchange Where He Operates : Supreme Court
2 years, 5 months ago

Stock Broker Should Obtain A Certificate Of Registration From SEBI For Each Of The Stock Exchange Where He Operates : Supreme Court

Live Law  

The Supreme Court held that a stock broker should obtain a certificate of registration from SEBI for each of the stock exchange where he operates.The bench of Justices Ajay Rastogi and BV Nagarathna disagreed with the Delhi High Court judgment that a single registration with Securities and Exchange Board of India is sufficient even if the stock broker has various …

‘No business to suggest…’: SEBI chief on IPO pricing of new-age tech firms
2 years, 6 months ago

‘No business to suggest…’: SEBI chief on IPO pricing of new-age tech firms

Hindustan Times  

Securities Exchange Board of India chairperson Madhabi Puri Buch on Tuesday said the capital markets regulator has no business to suggest pricing of the initial share sale of new-age technology companies. Sebi chairperson Madhabi Puri Buch said a company is free to ask for a higher price, but needs to disclose what happened in the intervening period which justifies the …

Sebi bars 3 individuals from securities market for illegal investment advisory
2 years, 7 months ago

Sebi bars 3 individuals from securities market for illegal investment advisory

Live Mint  

Markets regulator Securities and Exchange Board of India on 31 August banned three individuals from the securities markets for providing unauthorised investment advisory services. The latest proceedings took place after SEBI issued a show cause notice dated 31 July, 2021 to RNS Global Capital and its proprietors' -- Lakhan Chouhan, Rohit Soni and Shivani Thakur -- alleging that they were …

Sebi penalises Aadhaar Ventures, its directors for flouting market norms
2 years, 7 months ago

Sebi penalises Aadhaar Ventures, its directors for flouting market norms

Live Mint  

Sebi on Monday levied fines on Aadhaar Ventures India Ltd and its directors for violating insider trading rules and listing conditions. Sebi imposed a fine of ₹10 lakh on Aadhaar Ventures India Ltd, its directors -- Jils Raichand Madan, Somabhai Sunderbhai Meena and Jyoti Munver for disclosure lapses. Sebi conducted an early investigation for alleged price manipulation in the scrip …

Sebi Bans 6 Persons from Securities Markets in IIFL Group Front Running Case
2 years, 9 months ago

Sebi Bans 6 Persons from Securities Markets in IIFL Group Front Running Case

News 18  

Markets regulator Sebi on Friday barred six persons from the securities market for up to five years for front running the trades of India Infoline Group. In its order, Sebi has barred Santosh Brijraj Singh, who was a dealer of IIFL Group entity and Adil Gulam Suthar from the market for five years, while it prohibited mule account holders — …

Supreme Court Refuses To Interfere With Order Debarring MBL From Dealing In Securities In Its Proprietary Account For A Period Of 4 Years
2 years, 10 months ago

Supreme Court Refuses To Interfere With Order Debarring MBL From Dealing In Securities In Its Proprietary Account For A Period Of 4 Years

Live Law  

The Supreme Court, on Thursday, refused to interfere with the order of the Securities Appellate Tribunal which had affirmed the order of the Whole-Time Member, SEBI to debar MBL Company Limited from dealing in securities in its proprietary account for a period of 4 years. Investigation revealed that during the said period, MBL Company Limited, the broker, had executed self-trades …

Karvy scam | ED holds searches at properties linked to firm
3 years, 6 months ago

Karvy scam | ED holds searches at properties linked to firm

The Hindu  

The Enforcement Directorate has conducted searches at six locations linked to Karvy Stock Broking Limited in connection with bank fraud cases involving ₹2,873 crore. It has also issued an order freezing Karvy group shares worth ₹700 crore held directly or indirectly by the KSBL chairman-cum-managing director and others. According to the ED, KSBL had not reported the Depository Participatory account …

SEBI drops adjudication proceedings against RIL in alleged incorrect financial disclosures matter
3 years, 6 months ago

SEBI drops adjudication proceedings against RIL in alleged incorrect financial disclosures matter

The Hindu  

Markets watchdog SEBI has disposed of adjudication proceedings without imposing any penalty on Reliance Industries Ltd in a matter related to alleged incorrect disclosure of diluted earnings per share in its financial results more than 13 years ago. The quarterly financial statements submitted by Reliance Industries Ltd to the NSE for six consecutive quarters beginning June 2007 to September 2008 …

HC orders notice to SEBI on plea against DHFL
3 years, 9 months ago

HC orders notice to SEBI on plea against DHFL

Live Mint  

The Madras High Court on Tuesday ordered notice to the Securities and Exchange Board of India on a PIL demanding investigation by it into the alleged fraudulent activities of the Dewan Housing Finance Corporation Ltd. "According to the petitioner, investors may have lost in excess of ₹40,000 crore, with regulators, credit-rating agencies, auditors and others who were required to vet …

Supreme Court Exempts NDTV Promoters Prannoy Roy & Radhika Roy From Making Deposit Before SAT For Hearing Appeals Against SEBI Penalty
4 years, 1 month ago

Supreme Court Exempts NDTV Promoters Prannoy Roy & Radhika Roy From Making Deposit Before SAT For Hearing Appeals Against SEBI Penalty

Live Law  

The SEBI also banned Roys from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner, whatsoever, for a period of 2 years. Nevertheless, the two promoters being in possession of the UPSI sold company shares on April 17, 2008, when the trading window for them was closed and made …

Appeal Against SEBI Order- NDTV Promoters To Deposit 50% Of The Amount To SEBI Within 4 Weeks: Securities Appellate Tribunal
4 years, 2 months ago

Appeal Against SEBI Order- NDTV Promoters To Deposit 50% Of The Amount To SEBI Within 4 Weeks: Securities Appellate Tribunal

Live Law  

A bench of the Securities Appellate Tribunal, Mumbai comprising of Justice Tarun Agarwala, Dr. CKG Nair and Justice MT Joshi in two similar orders directed the two NDTV promoters, Prannoy Roy and Radhika Roy to deposit 50% of the disgorged amount before the Securities Exchange Board of India within four weeks. The SAT was hearing two appeals preferred by the …

Sebi rejects Axis Bank's plea in Karvy Stock Broking matter
5 years, 2 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, 3 months 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, 3 months 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, 3 months 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, 3 months 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, 3 months 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, …

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