Live
- Three persons admitted to hospital for diarrhea treatment
- First Star Outside Milky Way Captured: WOH G64 is 2,000 Times Larger Than the Sun
- Sikkim govt to constitute state Niti Ayog: CM Tamang
- CBI books Rajasthan narcotics inspector for Rs 3 lakh bribe
- Rajasthan bypolls: A tough contest between BJP and Congress
- Albania joins SEPA, paving way for EU integration
- Japanese government approves 250-billion USD economic package to ease price pain
- Six pharma companies to set up their units in Telangana
- The Unstable Events of a 17-Wicket Day in Perth: India vs Australia
- Dutch FM's Israel trip cancelled after Netanyahu's arrest warrant
Karvy arm, its CMD get Rs 25-cr notice from Sebi
New Delhi: Markets regulator Sebi on Wednesday sent a notice to Karvy Stock Broking Ltd (KSBL) and its CMD C Parthasarathy asking them to pay around...
New Delhi: Markets regulator Sebi on Wednesday sent a notice to Karvy Stock Broking Ltd (KSBL) and its CMD C Parthasarathy asking them to pay around Rs25 crore within 15 days in a case pertaining to misappropriation of clients’ funds by misusing the Power of Attorney. The notice came after they failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi).
Sebi in April 2023 barred KSBL and Parthasarathy from the securities market for seven years and also imposed a penalty of Rs21 crore on them for misappropriating clients’ funds by misusing the Power of Attorney given to the broking firm. Individually, the regulator had levied a fine of Rs13 crore on KSBL and Rs8 crore on Parthasarathy, promoter-cum-managing director. In its fresh notice, the regulator has directed KSBL and Parthasarathy to pay Rs15.21 crore and Rs9.36 crore, respectively.
