Case against Karvy Stockbroking promoters
The Hindu
The Gachibowli police booked a cheating case against Karvy Stockbroking Pvt Ltd head honchos C Parthasarthy and Meka Yugandhar Rao for allegedly defrauding a bank of ₹563 crore.According to police, th
The Gachibowli police booked a cheating case against Karvy Stockbroking Pvt Ltd head honchos C Parthasarthy and Meka Yugandhar Rao for allegedly defrauding a bank of ₹563 crore. According to police, the case was booked after an ICICI Bank manager approached the police with a complaint alleging cheating and criminal breach of trust. Police said that the Securities and Exchange Board of India’s circular states that clients’ securities with trading members cannot be pledged to banks or non-banking financial companies for raising funds and that SEBI also specified that broker should maintain clear segregation of client beneficiary account and its own beneficiary account.
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