 "sebi")
After a major scandal hit the stock markets with the brazen modus operandi of misusing clients' funds, the Securities and Exchange Board of India (Sebi) has banned Karvy Stock Broking (KSBL) from taking new clients and executing trades.
IANS had first reported the payment defaults occurring in Karvy Stock Broking and its clients filing complaints with the Prime Minister's Office (PMO), the Finance Ministry and Sebi.
Sebi said the unauthorised use of clients' funds creates a serious doubt over the conduct and integrity of KSBL.
This is one of the biggest cases of broker defaults in the equity segment and despite numerous regulations,
