Sebi issues Rs 25 crore notice to Karvy Broking, CMD

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NEW DELHI:

Sebi

on Wednesday sent a notice to Karvy Stock Broking and its CMD C

Parthasarathy

asking them to pay around Rs 25 crore within 15 days in a case pertaining to

misappropriation

of clients’ funds by misusing the

power of attorney

. The notice came after they failed to pay the fine imposed on them by Sebi. Sebi in April 2023 barred KSBL and Parthasarathy from the market for 7 years and fined Rs 21 crore for

misappropriating clients’ funds

.