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Last Updated : Nov 20, 2019 06:05 PM IST | Source: Moneycontrol.com

Karvy delays broking payouts: Investors send SOS to Centre, FinMin & SEBI

The latter is facing a liquidity crunch as some of its commodity trading clients have defaulted on payments after incurring huge losses on trades in castor seed contracts, sources told Moneycontrol


Investors have taken the social media route to complain to the Prime Minister’s Office (PMO), Finance Ministry and markets regulator Securities and Exchange Board of India (SEBI), seeking payouts from Hyderabad based-financial services group Karvy.

The latter is facing a liquidity crunch as some of its commodity trading clients have defaulted on payments after incurring huge losses on trades in castor seed contracts, sources told Moneycontrol.

The payments contagion now seems to have spread with other investors complaining that Karvy is not making payments.

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Dipak Mundra tweeted that despite requesting transfer of existing funds from his trading account, the same was not being done “on the pretext that there are server issues.”

Other investors to have complained:





Following investor complaints, Karvy tweeted that most issues have been addressed.


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First Published on Nov 18, 2019 09:17 am
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