The recovery proceedings against KSBL s former VP (finance and accounts) Krishna Hari G; KSBL s former compliance officer Srikrishna Gurazada; KSBL s General Manager of back office operation Srinivasa Raju for Rs 1.80 crore, includes interest, all costs, charges and expenses, Sebi said in three attachment orders on November 14.
Get latest articles and stories on Latest News at LatestLY. Capital markets regulator Sebi on Wednesday sent demand notices to three former officials of Karvy Group, asking them to pay about Rs 1.8 crore in the case of the misappropriation of client's funds by Karvy Stock Broking Ltd (KSBL). Latest News | Sebi Issues Rs 1.8 Crore Demand Notices to Former Officials of Karvy Group.
Sebi issues ₹1.8 crore demand notices to former officials of Karvy Group thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs1.9 crore on four former key officials of Karvy Stock Broking Ltd (KSBL) for several violations, including non-segregation of clients funds and securities, misappropriation of clients securities and diverting proceeds to group companies and illegally pledging credit clients securities with banks and non-banking finance companies (NBFCs).
A penalty of Rs 1 crore has been levied on Krishna Hari G, whereas Raju has been ordered to pay Rs 40 lakhs and Gurazada and Mahesh have been ordered to pay Rs 30 lakhs and Rs 20 lakhs respectively