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SEBI rejects any relief to Karvy lenders

Dec 14, 2019 19:00 IST

The Securities Exchange Board of India on Friday refused to grant any relief to the lenders of the Karvy Stock Broking stating that relief sought by the representors  are not tenable Bajaj Finance, ICICI Bank, HDFC bank and IndusInd Bank had sought reversal of the shares pledged by KSBL that were later transferred by depositories into client's account. The remedy for the lenders lies against KSBL before civil court of competent jurisdiction, the SEBI said.

 

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