Hope investors do not lose money: Sub-broker

By: Swathi RathorHYDERABAD: An investor who knocked on the doors of Karvy’s office at Nanakramguda on Saturday morning was reassured by an executive of the company that “by Wednesday, people should be getting back their money.” Hardeep Pannu, partner at a financial advisory firm, eFinserve, said: “Our clients use some of the other Karvy financial services where Karvy is the beholder of data. Now, investors are wary that what happened at Karvy Stock Broking can happen at other group companies as well. They will have to assure clients about what kind of risk management systems they have .”A sub-broker with Karvy, who has over 60 investors, said even his clients have been facing payout issues since last month. “There is no way all this could take place without the knowledge of operations head. But I am hopeful that investors’ money will not be lost as regulations are so stringent that the company will have to pay up eventually.”Meanwhile, Karvy Group CMD C Parthasarathy reached out to employees and said: “In view of the negative coverage by the press, I would request all of you to talk to our clients, and explain to them that it will be business as usual at Karvy Stock Broking and all other Karvy group companies.”