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SAT says Sebi has four weeks to comply with Karvy order
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₹600 crore by pledging securities worth over ₹2,300 crore belonging to 95,000 clients. According to Sebi rules, brokers are required to segregate client accounts and broker accounts.
Sebi had also prevented lenders from accessing the pledged shares. In fact, lenders including HDFC Bank, Axis bank ICICI Bank, IndusInd Bank and Bajaj Finance had petitioned against Sebi’s direction to transfer securities held with Karvy Stock Broking Ltd (KSBL) back to the clients.Milestone Alert!
Livemint tops charts as the fastest growing news website in the world
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