NDTV to file appeal against Sebi order imposing Rs 12 lakh fine for disclosure lapses
NDTV to file appeal against Sebi order imposing Rs 12 lakh fine for disclosure lapses

Mumbai: In the aftermath of Karvy Stock Broking episode, capital market watchdog Sebi on Wednesday said the brokerage was indulging in activities which were "never allowed".

The comments from the regulator's chairman Ajay Tyagi come days after Securities and Exchange Board of India (Sebi) banned Karvy, with immediate effect, for selling client stocks pledged with it through associated entities.

Tyagi added that, in June, Sebi had made its stance “explicit” through a circular and hinted that there was no case for entities to indulge in such practices before that as well.

"What is basically never allowed was being done. It is not that this separation was asked in June," he said.

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal

www.freepressjournal.in