CMD of Karvy Stock Broking taken into custody again
The Hindu
Company secretary held by city police for falsifying board resolution
Chairman and managing director of Karvy Stock Broking Limited (KSBL) C Parathasarathy was taken into custody by the Hyderabad Central Crime Station police for the third time after the Nampally Criminal Court granted custodial interrogation. Mr. Parathasarathy will be in police custody for two days (Friday and Saturday). He has been accused of defaulting bank loans, besides raising loans against the securities of his clients without their consent. “He was taken into custody for questioning pertaining to a case registered against him by HDFC Bank for availing a loan of ₹ 350 crore by pledging the shares of the company clients illegally and defaulting the payments,” an officer said. Meanwhile, company secretary of KSBL Y. Sailaja was arrested by the CCS police for falsely creating company resolution and misrepresenting to HDFC Bank to obtain a loan.
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