What to do if you are a client of Karvy Stock Broking – Livemint

The order was provided versus Karvy for various infractions of SEBI norms including the transfer of customer shares to itself and promising of client shares to raise money for itself. According to a senior executive at one of India’s biggest brokers, the SEBI order on Karvy instructions on the basis of customer PoAs, can prevent existing client trades from being settled. “Sebi directive against Karvy pretty much disallows the brokerage company from performing and settling future trades on clients behalf.”Clients can open a brand-new demat account and move the securities that are with the Karvy demat account to it,” stated the previously mentioned senior executive. If your trades have actually failed due to the Karvy defaults, if your securities have been moved to Karvy’s own accounts or you see some other abnormality, file a grievance with SEBI.

The order was released versus Karvy for various violations of SEBI norms including the transfer of customer shares to itself and pledging of client shares to raise money for itself. According to a senior executive at one of India’s largest brokers, the SEBI order on Karvy directions on the basis of customer PoAs, can prevent existing customer trades from being settled. If your trades have actually stopped working due to the Karvy defaults, if your securities have actually been moved to Karvy’s own accounts or you notice some other irregularity, submit a problem with SEBI.