karvy Stock Broking case: Sebi fines Rs 1.9 crore on 4 ex-officials
Capital markets regulator Sebi on Friday imposed a penalty totalling Rs 1.9 crore on four former officials of Karvy Group for flouting norms in the case pertaining to misappropriation of clients' funds by Karvy Stock Broking Ltd (KSBL). They have been directed to pay the fine within 45 days, according to the order passed by the Securities and Exchange Board of India (Sebi). The order came after Sebi initiated adjudication proceedings against the key persons of KSBL, who allegedly contributed/colluded with the brokerage house in its wrongdoings.
