Sebi issues Rs 25 crore notice to Karvy Broking, CMD – Times of India

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.