Karvy: SAT asks SEBI to hear Axis plea

The Securities Appellate Tribunal (SAT) on Tuesday asked SEBI to pass an order within 15 days in Karvy Broking matter on Axis Bank’s plea, which said the regulator’s ruling is preventing the lender from accessing securities pledged by the broking firm through another account.

The order follows a SEBI directive to the National Securities Depository Ltd. in November that prevented Axis Bank from accessing the securities pledged with the lender by Karvy Stock Broking Limited (KSBL).

The case pertains to the securities held by KSBL, which were used by the brokerage for borrowing, courtesy the power of attorneys (PoA) that they held.

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Printable version | Feb 24, 2020 5:55:28 AM |

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