Karvy denies misuse of client funds, says only Rs 50 cr dues pending

The official said their clients are starting to worry after the Sebi order and the company is reaching out to them to explain the ground reality

Karvy Stock Broking (KSBL) owes Rs 40-50 crore to its clients and the money will be repaid over the due course, said a top official. The brokerage refuted claims that it has defaulted on loans worth Rs 2,000 crore. 

“We don’t know from where this Rs 2,000 crore figure has come. I would like to say all the securities are intact. All these will be credited into regular accounts. So investors don’t have to worry as to what will happen to their securities. There is no default in this particular case. The Sebi order says that the securities have not