Sebi Alerts Investors: File Claims Against Defaulter KSBL By June 2
Sebi has urged investors of Karvy Stock Broking Ltd (KSBL) to submit claims by June 2, 2025, following the firm's default. Declared defaulter by NSE, KSBL misappropriated client funds via misused Power of Attorney. Investors can contact NSE for assistance on filing claims.
- Country:
- India
The Securities and Exchange Board of India (Sebi) issued a crucial reminder to investors associated with Karvy Stock Broking Ltd (KSBL) on Friday. Investors have until June 2, 2025, to file claims against KSBL, which defaulted on its financial obligations.
The National Stock Exchange labeled KSBL a defaulter on November 23, 2020, initiating a call for claims from affected investors. With the deadline drawing near, Sebi advised those yet to file claims to act promptly. For assistance, investors can contact the NSE through its toll-free number or email.
The brokerage, led by CMD C Parthasarathy, faced severe penalties in April 2023. Sebi barred KSBL from securities markets for seven years and imposed a Rs 21 crore fine for fund misappropriation, revealing a broader scheme where client securities were pledged dishonestly.
(With inputs from agencies.)
Google News