Karvy

Investor compensation claims fall as Sebi clamps down on stockbroker frauds

The National Stock Exchange provided compensation worth Rs 52 crore to investors who were defrauded by brokers in FY24, against Rs 129 crore in FY23, Rs 535 crore in FY22 and Rs 552 crore in FY21, official data showed

Sebi gets SC stay on SAT order in Karvy case, NSE, NSDL pleas listed for Jan 29

While the SAT's direction was to SEBI, National Stock Exchange (NSE) and National Securities Depositories Limited (NSDL), SC has granted interim relief only to SEBI. The apex court will hear pleas by NSE and NSDL for interim reliefs on January 29.

SEBI, NSDL and NSE may have to pay over Rs 1,400-cr compensation to Karvy lenders post SAT order

SAT in its order asked the 3 bodies to return shares pledged by Karvy Stock Broking to the brokerage's lenders or compensate the lenders with the value of the underlying securities along with an interest of 10% per annum

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Our specially curated package of the most interesting articles to help you stay at the top of your game.

Sebi cancels Karvy Stock Broking's registration

Stock broker will continue to be liable for payment of dues

SEBI delivers final order in Karvy demat scam, cracks down on MD and directors

The Karvy demat scam, which first came to light in the second half of 2019, was orchestrated by the brokerage house by pledging securities lying in the demat account of unsuspecting customers.

Karvy Imbroglio: A trip down memory lane

It all began sometime in late 2019 when the SEBI learnt that Karvy had pledged the shares of its clients without their knowledge to raise funds for the group firms.

Mutual fund commissions stop for sub-brokers of Karvy Stock Broking

Without NOC from Karvy or SEBI’s approval, fund houses can’t pay sub-brokers directly, putting them in financial strain.

A Rs 90-lakh penalty on Anugrah Stock & Broking is a joke

SEBI imposes high penalties on investors and traders for breaking the law. That is good, but the same yardstick should be used to penalise brokers and exchanges

Ajay Tyagi’s report card has more hits than misses, except for some recent decisions

Keeping the markets functioning smoothly during the lockdown period will go down as one of his biggest achievements

Defaulter Karvy to repay its dues by March: SEBI

Beleaguered stock broker Karvy will clear its obligations towards lenders and clients by the first week of March, SEBI chairman Ajay Tyagi told reporters today.

SEBI tightens norms for investment advisory services, unveils 'regulatory sandbox'

Securities and Exchange Board of India (SEBI) today announced a number of steps to regulate financial markets.

Financial Regulations | 2019 was a year of 'collateral' damage. Here are the ways to fight it in 2020

A close examination of these defaults suggests that less regulation was not the problem and more regulation is not the solution

Lenders drag Karvy to DRT for recovery of loans

The lenders are hoping to recover money from Karvy by seeking the sale of broker’s assets which is pledged with bankers by the DRT. A source close to development told Moneycontrol, "Karvy's promoters pledged their own stake and other assets which are around worth of Rs 5,000 crore."

Karvy scam | SEBI likely to seek RBI probe into role of banks, NBFCs

Lenders that extended loans to Karvy, partially in lieu of client securities, had enough warning signs that something was amiss.

Govt should work with regulators to fix problems in Karvy, DHFL fraud cases: Congress

Karvy is under regulatory lens for allegedly misusing securities of over 95,000 clients which it was holding to raise over Rs 600 crore in loans.

Sebi is right in favouring clients over Karvy’s lenders

The lenders should have completed their proper due-diligence before releasing the money

Explained | How Karvy went from broking to broke

Here's an explainer on what the Karvy scam is all about, how banks have been affected and who's at fault.

Karvy case: SAT refuses relief to banks

SAT had earlier directed SEBI to hear Bajaj Finance's plea and pass an order by December 10.

Bajaj Finance challenges SEBI decision on Karvy: 'Have right to pledged shares'

Bajaj Finance has moved the SAT to challenge SEBI's decision on restoring Karvy's pledged securities to its clients.

Sebi declines Karvy's plea to use PoA, cites illegal transfer of client money

After considering the facts and circumstances of the case including enormity of the prima facie violations observed against Karvy, Sebi in an order passed late night Friday said it would not be prudent to allow the use of PoA by Karvy given to it by its clients.