SAT gives Sebi till Monday to decide on interim relief to Karvy
As per the Sebi order, Karvy had misused client securities by pledging them with various lenders without authorization
Securities Appellate Tribunal will pass its final orders on Monday
New Delhi: The Securities Appellate Tribunal (SAT) on Friday asked the Securities and Exchange Board of India (Sebi) to decide by Monday on interim relief to Karvy Stock Broking to allow limited use of power of attorney (PoA). Sebi had barred Karvy from using PoA via its 22 November order after the broker was found to have allegedly diverted clients’ money and indulged in trades not authorised by them.