SEBI extends deadline to file claims against Karvy Stock Broking till Dec 31
This story was originally published at 19:48 IST on 21 August 2025
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MUMBAI – The Securities and Exchange Board of India has extended from Jun. 2 to Dec. 31 the deadline for filing claims against Karvy Stock Broking Ltd., which was found to have misused client securities and funds, leading to substantial losses for investors. This extension is based on feedback received from investors, the market regulator said in a press release Thursday.
In November 2020, the National Stock Exchange declared Karvy Stock Broking a "defaulter" and suspended its membership. Following this, the market regulator invited investors to file claims against the broking firm, fixing Jun. 2 as the final date for submission.
The Karvy Stock Broking scam came to light in November 2019, when various irregularities, including misuse of client assets to obtain loans for its own purposes and diverting them to other entities, were found. Following this, in 2023, SEBI barred the broker and its managing director, Comandur Parthasarathy, from the securities market for seven years and imposed substantial penalties on them. End
Reported by Arya S. Biju
Edited by Ashish Shirke
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