Sebi orders to attach bank, demat accounts of ex-officials of Karvy Group

Sebi has ordered the attachment of bank and demat accounts of Karvy Group's three former officials to recover Rs 1.80 crore for the misappropriation of client's funds by Karvy Stock Broking Ltd (KSBL). The recovery proceedings against KSBL's former VP (finance and accounts) Krishna Hari G; KSBL's former compliance officer Srikrishna Gurazada; KSBL's General Manager of back office operation Srinivasa Raju for Rs 1.80 crore, includes interest, all costs, charges and expenses, Sebi said in three attachment orders on Tuesday. In its notices, Sebi asked all banks, depositories, and mutual funds not to allow any debit from the accounts of Krishna Hari G, Srikrishna Gurazada and Srinivasa Raju. However, credits have been permitted. Further, the market regulator has directed all the banks to attach all accounts, including lockers, of the defaulters. Last month, Sebi sent demand notices to -- Krishna Hari G, Srikrishna Gurazada and Srinivasa Raju -- asking them to pay about Rs 1.8 crore in

from Markets https://ift.tt/3p6Rq4n