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SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE – PRESS RELEASES/ CHAIRMAN’S AND MEMBER’S ORDERS / AO ORDERS/ SAT ORDERS/ NEWSPAPER ADS
UPDATED TILL : 29-APR-2025

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

NSDL DEPOSITORY PARTICIPANTS: DIRECTED NSDL TO UNDERTAKE A COMPREHENSIVE INSPECTION OF THE SYSTEMS AND PROCEDURES OF KARVY STOCK BROKING LTD.

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 
History of entity/person KARVY STOCK BROKING LTD.   (Depository Participant : NSDL)
  DID NOT ASCERTAIN GENUINENESS OF ENTITIES WHILE OPENING THEIR DEMATERIALIZED ACCOUNTS  DIRECTED NSDL TO UNDERTAKE A COMPREHENSIVE INSPECTION OF THE SYSTEMS AND PROCEDURES OF KARVY STOCK BROKING LTD.

15-DEC-2005 		SEBI VIDE ITS ORDER DATED 28/01/2014 PROHIBITED KARVY FROM TAKING UP ANY NEW ASSIGNMENT (I.E. NOT TO TAKE UP ANY NEW CLIENTS) FOR A PERIOD OF EIGHTEEN MONTHS.AS KARVY HAS ALREADY UNDERGONE SUCH PROHIBITION FOR 18 MONTHS AND 26 DAYS, NO FURTHER PENALTY IS IMPOSED

SEBI VIDE ITS ORDER DATED 14/03/2014, PROHIBITED KARVY FROM TAKING UP ANY NEW ASSIGNMMENT OR CONTRACT OR LAUNCH A NEW SCHEME (I.E.,NOT TO TAKE NEW CLIENTS/CUSTOMERS) FOR A PERIOD OF SIX MONTHS IN RESPECT OF ITS BUSINESS AS A STOCK BROKER

SAT: SAT VIDE ITS ORDER DATED 21/01/2015 QUASHED AND SET ASIDED IMPUGNED ORDER DATED 14/03/2014 AND RESTORED THE FILE TO SEBI FOR PASSING A FRESH ORDER. NO COSTS

SEBI VIDE ITS ORDER DATED 15/06/2015 DIRECTED TO DISPOSE OFF THE PROCEEDINGS BY DIRECTING THE NOTICEE, KARVY STOCK BROKING LTD. NOT TO UNDERTAKE NEW PRIMARY MARKET ASSIGNMENT INCLUDING ACTING AS SYNDICATE MEMBER OR PROVIDING SYNDICATION SERVICES (PROCURING IPO APPLICATIONS AND BIDDING IN IPOS), DIRECTLY OR INDIRECTLY, IN IPOS FOR A PERIOD OF ONE YEAR. IN ORDER TO AVOID INCONVENIENCE TO ANY ISSUER/INTERMEDIARY, IT IS CLARIFIED THAT THIS DIRECTION SHALL NOT HINDER THE ACTIVITIES FOR WHICH THE NOTICEE WAS ALREADY ENGAGED FOR UNDERTAKING PRIMARY MARKET ACTIVITIES BEFORE THE DATE OF THIS ORDER
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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