E-PaperKarvy Stock News
Karvy case: Funds, securities worth Rs2,300 cr settled, says NSE
While disciplinary proceedings are underway, funds and securities of approximately Rs2,300 crore belonging to about 2.35 lakh investors have been settled so far, with efforts focused on the settlement of small investors, NSE said
1 min read17 Nov 2020How to reactivate trading accounts
Do your KYC again if your broker has deactivated your accountAccording to an NSE circular, a trading account shall be marked dormant if there’s no trading activity for 12 months
3 min read25 Feb 2020Axis Bank gets interim relief from SAT in Karvy Stock Broking matter
SAT on Wednesday granted interim relief to Axis Bank by directing status quo to be maintained on the Sebi order till further hearing of the matter Axis Bank had moved SAT seeking the shares pledged by Karvy Stock Broking Ltd to the lender be unfrozen, so that it can invoke the pledges
1 min read15 Jan 2020Karvy Stock Broking case: Sebi rejects Axis Bank's plea to allow it to invoke pledge on shares
Axis Bank, later in a statement, said it has filed an appeal before the Securities Appellate Tribunal (SAT) against the order passed by SebiAxis Bank had moved SAT seeking the shares pledged by KSBL to the lender be unfrozen, so that it can invoke the pledges
3 min read15 Jan 2020Karvy gets interim relief on ICICI Bank’s DRT plea
Telangana HC notes that the DRT proceedings were ‘ex-parte’ in nature and thus prejudicial to KarvyKarvy says it has not defaulted in its payment obligations to ICICI Bank till Oct 2019, under the facility agreements
2 min read30 Dec 2019Denied relief by Sebi, Karvy’s lenders look at DRT, IBBI options
Lenders are also considering a move to sell minority stakes in the sister concerns of Karvy Stock BrokingICICI Bank on 20 Dec became the first lender to approach the Hyderabad DRT for recovery of dues
3 min read30 Dec 2019Unfolding tragedy of loan against shares
Caught in a credit squeeze, India Inc began to pledge shares to raise money. That deck of cards is now collapsingWith several regulated MFs now assuming the role of lenders, an overuse of loan against shares is a concern not only for shareholders but also for the health of the financial system
9 min read18 Dec 2019Be careful in executing Power of Attorney with stock brokers: NSE to investors
The latest communication comes against the backdrop of Karvy Stock Broking unauthorisedly transferring securities worth ₹2,300 crore of more than 95,000 clients, into its account, by misusing the PoA given by its clients
1 min read10 Dec 2019Opinion | Karvy’s clients have a legitimate right to their shares
Its lenders, on the other hand, could pursue civil or criminal action for which they have enough means
4 min read4 Dec 2019NSE to take call on revoking Karvy suspension by 6 December
In its plea before the SAT, Karvy had said that NSE’s move marks the economic death of the firmThe stock broking firm had said that its suspension was based only on preliminary findings
2 min read3 Dec 2019Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared