ED freezes shares worth ₹ 700 crore of Karvy group
The Hindu
Company had allegedly pledged securities of its clients, taken ₹ 329 crore loan and diverted the same
The Enforcement Directorate said it has frozen shares worth ₹ 700 crore of Karvy group, held directly or indirectly by its Chairman and Managing Director C. Parthasarathi, his two sons and their entities, following search operations at six locations connected to Karvy Stock Broking Limited (KSBL) under Prevention of Money Laundering Act (PMLA).
Parthasarathi is currently lodged in Chanchalguda jail after he was arrested on August 19. The Chief Executive Officer of Karvy Rajeev Ranjan Singh and Chief Financial Officer G. Krishna Hari were arrested by the police earlier this month.
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