Funds, securities worth Rs 2,300 crore settle in Karvy case: NSE

Investors with a fund balance of up to Rs 30,000 due from Karvy Stock Broking Limited have been settled, according to NSE spokesperson.

The spokesperson further added that while disciplinary proceedings are underway, funds and securities of around Rs 2,300 crore belonging to about 2,35,000 investors have been settled so far, with efforts focused on the settlement of small investors.

Earlier, leading stock exchanges BSE and NSE in December last year had suspended the brokerage’s trading licence for all segments due to non-compliance of the regulatory provisions of the bourses.


The move came after Sebi, through an order passed on November 22, 2019 barred Karvy from taking new clients in respect of its stockbroking activities and had also prevented it from using the power of attorney (PoA) given by clients after the broker was found to have allegedly misused clients'' securities.