IIFL Securities has won the bid to acquire about 1.1 million demat accounts held by Karvy Stock Broking, while Axis Securities has emerged as the successful bidder for trading accounts (broking accounts) held by Karvy. These wins were part of a formal bidding process organised by the National Stock Exchange of India (NSE), BSE, and MSE. This is to inform you that IIFL Securities has emerged as the successful bidder for demat accounts held by Karvy with NSDL and CDSL. The said transfer of demat accounts is subject to remittance of the bid amount and submission of the necessary documents in relation thereto, IIFL Securities said in an exchange filing.
FBS, now also operating under the Australian Financial Services License number 426359, is ready to start providing services in Australia and other regions in
15 Comments on this Story
SreenivasaChakravarti29 days ago
Have written #Karvy to refund ledger balance but there is no action taken. Complaints escalated to NSDL again no reply. NICE Portal skirts the subject of ledger balances and only asks for scripts. It’s a perfect circular logic where small investors are destined to lose.
SSRINIVASAN48 days ago
Karvy Stock Broking Limited has cheated small investors by pledging the shares by misusing the Power of Attorney (POA). These POAs were obtained as a matter of routine from the small investors and there was no way a small investor could say no to signing the POA. NSE& BSE have not banned this group from doing any business in securities market. We invest in the security market hoping that the regulatory bodies would take stringent action on erring brokers both on the brokeing firms and on the persons involved in the fraud by confiscating their personal wealth. But regulatory bodies did not safeguard the interest of small investors
up with this sort of stuff. i hope chris is innocent, but if he s not innocent for some reason, i do expect there to be more cases like this. there will be more cases like this either way, but i just don t like the activity at all. it s one of the reasons why i ve never had a trading account. one of the things that they point out, the u.s. attorney for the southern district of new york, in the charges against him is that once he got word that pharmaceutical, that biotech company, that the clinical tr s trials on ms had failed, he was actually at the white house congressional picnic with the president and made that phone call, according to this indictment, to his son from the white house lawn. that was awkward, right? well, but that s another reason why you don t have trading accounts and you try to stay above the fray. what happens is you have all these human impulses, wolf. if you get information like that and he s saying this call was false, but let s say it wasn t for a second
the world. i m wolf blitzer. you re in the situation room. i saw a very upbeat newt gingrich this week. i spent time with him behind the scenes here in washington. before we sat down for our indepth interview. this is a man experienced big highs and big lows in his political career. and he s not ready at least publicly to presume he s got the republican presidential nomination all wrapped up. listen to our conversation here in washington. mr. speaker, thanks very much for joining us. we have new polls and i know you ve seen those numbers and you re doing remarkably well. double digit leads in south carolina, florida, and iowa. you re moving up even in new hampshire. but your critics say you, newt gingrich, are fully capable of imploding if you will, making a mistake, a blunder that can turn things around. are you worried about that? sure. that will be a bad thing to do. i mean is it possible? i guess. on the other hand, i have had a very long career. i have a very pub