Investors Urged to File Claims as Karvy Stock Broking Deadline Nears

Markets regulator Sebi has issued a stark reminder, urging investors of the defunct broker Karvy Stock Broking Ltd (KSBL) to file their claims ahead of the looming deadline on June 2.

This deadline marks a significant date in the aftermath of KSBL's declaration as a defaulter by the National Stock Exchange (NSE) on November 23, 2020. Investors had been given a window till June 2, 2025, to file verifiable claims against the defaulting broker.

In a statement emphasizing urgency, Sebi advised investors to heed the approaching deadline and submit claims if not already done. Assistance can be procured by contacting NSE via their toll-free number or email. In April, Sebi sanctioned KSBL and its CMD with a market ban and a notable financial penalty, following a large-scale misappropriation of client funds.

(With inputs from agencies.)