Page 5 - Karvy Stock Broking Limited Ksbl
Sebi denies Karvy's plea to use PoA, cites illegal transfer of client money
The markets watchdog further said clients of Karvy who seek to sell securities through the broker may do so by using electronic or physical Delivery Instruction Slip only
90% Karvy investors get back their securities due to prompt Sebi action
Of the 95,000 clients, nearly 83,000 of them have got back their securities, which were illegally transferred by the KSBL to its own account
 "90% Karvy investors get back their securities due to prompt Sebi action")
No interim relief for Karvy as Sebi refuses permission to enrol new clients
The Securities and Exchange Board of India (Sebi) order also highlighted the alleged misuse of power of attorney (PoA) by Karvy
NSE suspends Karvy Stock Broking's license due to non-compliance
Last month, capital market regulator Sebi had banned the brokerage firm from taking new clients and executing trades for misusing clients' funds.
 "NSE suspends Karvy Stock Broking's license due to non-compliance")
Lessons from Karvy fiasco: Solution lies in better implementation of rules
What's required is proper implementation of the rules and better coordination between market intermediaries such as stock exchanges and clearing members who play a key role in monitoring brokerages
Misuse of client funds: SAT asks Sebi to review order issued against Karvy
The Sebi counsel informed the tribunal about the forensic audit initiated against the brokerage
Karvy case: SAT asks Sebi to review limited use of power of attorney issue
Sebi's directive had come after the National Stock Exchange forwarded a preliminary report to it on the non-compliances observed with respect to pledging/misuse of client securities by Karvy
 "Karvy case: SAT asks Sebi to review limited use of power of attorney issue")
Barings Asia looks to exit investment after Karvy comes under Sebi lens
Indian lenders, which have an exposure of Rs 2,900 crore in Karvy group companies, are taking legal advice on how to enforce the collateral taken from Karvy
Top events today: Sept GDP numbers, Yes Bank to consider fundraising & more
From September GDP data, SAT hearing on Karvy ban by Sebi to opposition parties and academicians attending slowdown conclave, Business Standard brings you the top news events of the day.
 "Top events today: Sept GDP numbers, Yes Bank to consider fundraising & more")
Top 10 biz headlines: NBFCs bailout likely, sops in Maharashtra & more
From credit card spending to RIL's Rs 10-trillion m-cap, Business Standard brings you the top business headlines of the day
 "Top 10 biz headlines: NBFCs bailout likely, sops in Maharashtra & more")
Karvy Stock Broking moves SAT against Sebi order; hearing on Friday
Karvy will be represented by Vikram N of Visesha Law Services, according to the cause list put out by SAT.
Sebi puts Karvy-HNIs nexus under scanner, EY conducts forensic audit
Regulatory sources say their prime objective is to ensure that innocent clients whose funds and securities are stuck with the brokerage are returned safely
Business as usual: Karvy tells clients it can keep trading despite Sebi ban
Karvy Private Wealth, a unit of the brokerage, issued a note after Sebi's ban to tell its clients that it will continue to provide trading services
 "Business as usual: Karvy tells clients it can keep trading despite Sebi ban")
Karvy Group Chairman & MD C Parthasarathy resigns from Karvy Fintech
A year ago, the PE firm had acquired Karvy group's stake for around Rs 1,000 crore
ICRA downgrades Karvy Stock Broking's long-term bank lines to 'BB'
The rating is based on limited or no updated information on the entity's performance since the time it was last rated in March 2019.
What Karvy Stock Broking has done can't be allowed: Sebi chief Ajay Tyagi
Regulator says looking to tighten related-party transaction norms
 "What Karvy Stock Broking has done can't be allowed: Sebi chief Ajay Tyagi")
EY's forensic audit on Karvy to focus on fund diversion of Rs 1,100 cr
The company stopped giving financial information on the group companies, leading to multiple downgrades by rating firm ICRA in November.
Karvy crisis: What clients should do with holdings in their demat accounts
If demat holdings are intact, then Karvy's clients have the option to move to another broker. If not, they should complain.
 "Karvy crisis: What clients should do with holdings in their demat accounts")
Karvy Broking's possible default gives investors, bankers the jitters
Market regulator Sebi has barred Karvy Broking from taking on new clients over alleged misuse of clients' securities
Karvy indulged in activities which were never allowed, says Sebi chief
Tyagi said that, in June, Sebi had made its stance 'explicit' through a circular and hinted that there was no case for entities to indulge in such practices before that as well
 "Karvy indulged in activities which were never allowed, says Sebi chief")
