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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The scam around pledging of client securities without consent has set off a blame game and consequent crackdown by SEBI. But are the checks and balances good only till the next fraud happens?
Last month, IndusInd Bank, HDFC Bank and ICICI Bank filed criminal complaints against Karvy Stock Broking Ltd for defrauding them of Rs 137 crore, Rs 350 crore and Rs 563 crore, respectively. The Hyderabad Police then arrested Karvy founder and chairman C. Parthasarathy, its chief executive officer and its chief financial officer, among others.
The arrests came in the wake of Karvy being declared a defaulter, a fraud loan account and its broking licence being revoked by stock exchanges for pledging client securities without consent.
But Karvy is not alone. Since 2018, over 30 stockbrokers have defaulted in complying with …
The acquisition of IDBI Bank puts his Fairfax smack dab in the middle of the RBI’s rules on bank ownership. It must now decide whether to sell CSB Bank or merge the two lenders, neither of which will be easy.
Lenders stand to gain a lot more than borrowers in the current challenging market environment
Thinly traded listed entities have long served as breeding grounds for stock manipulation, hurting investors. The regulator, the NSE and BSE now want to fix things by focusing on efficient delisting.
