The NSE or National Stock Exchange of India Limited today suspended the Karvy Stock Broking Limited for non-compliance of the regulatory provisions of the exchange in capital market, futures and options, currency derivatives, debt, MFSS and commodity derivatives segments. The suspension is effective from today.
The action followed NSE forwarding a preliminary report to Sebi on the non-compliances observed with respect to the pledging/misuse of client securities by Karvy Stock Broking (KSBL).
Investors with accounts with the broker will be able to migrate to other brokers.