karvy dp

HC of Andhra Pradesh has ordered suspension of an interim order Sebi, directing all DP accountholders of Karvy to shift to a new depository participant.

Karvy Group chairman C Parthasarathy is no stranger to controversy. Parthasarathy, who is one of the five founders of Karvy Group, has weathered many a scam including the infamous Roopal Panchal IPO (initial public offering) scam where markets regulator Securities & Exchange Board of India (Sebi) found irregularities in 21 IPOs between 2003 and 2005.

SEBI has said that transactions carried out by barred market players will not be affected by the ban.

Securities Appellate Tribunal stayed a Sebi order banning domestic brokerage firm Karvy Stock Broking Ltd (KSBL) from acting as a broker for three months.

A recent decision by Bombay High Court could open the pandora’s box of numerous client claims in broker defaults for leading depositories, CDSL and NSDL

Markets regulator Sebi late on Friday rejected pleas by four lenders led by Bajaj Finance to reverse its December 2 decision to return all those shares to investors which were illegally pledged by Karvy Stock Broking to raise funds for its own use.

Enforcement Directorate (ED) has issued an order freezing shares worth Rs 700 crore of accused in Karvy scam under the Prevention of Money Laundering Act (PMLA). The estimated value of the shares, Rs 700 crore, was arrived as per the valuation report. Incidentally, the order was issued on Friday, but came to light on Saturday.

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".

Karvy Stock Broking Ltd (KSBL) raised loans by pledging shares of its clients and diverted around ₹1,100 crore to group companies like Karvy Realty, the Registrar of Companies (RoC), Hyderabad, has said its report to the Union ministry of corporate affairs (MCA) and other statutory authorities.

The move comes a day after the market regulator Sebi's directive to NSDL to transfer the investors' securities, held by Karvy Stock Broking Ltd (KSBL), in their respective accounts.

ED issues ECIR under PMLA based on FIRs by Hyderabad CCS police on the complaint of HDFC Bank alleging that KSBL had illegally pledged the securities of its clients and taken a loan of Rs 329 Crore and diverted the same.

The Government Railway Police arrested a man with two country-made bombs in Chitrakoot on Monday.The accused has been booked under the Explosives Act.

The Enforcement Directorate (ED) has provisionally attached properties and shareholdings worth 1,984 crore of Karvy Stock Broking Limited (KSBL), its chairman C Parthasarathy and other accused under the Prevention of Money Laundering Act (PMLA).

Sebi has passed a second interim order to recover the notional loss suffered by small investors in the IPO scam.

The AP HC stay on the April 27 order by Sebi has ensured the timely listing of Reliance Petroleum Ltd shares on the stock exchanges.

IPO Scam: dps may target entities on sebi list.