Sebi sets June 2 timeline for Karvy investors to file claims

New Delhi: Markets regulator Sebi on Friday asked investors of Karvy Stock Broking Ltd (KSBL), which has defaulted on payments, to file their claims before June 2 deadline. KSBL was declared a defaulter by the National Stock Exchange (NSE) on November 23, 2020. Following this, investors were invited to submit claims against the defaulting broker, with the final date for submission set as June 2, 2025. Highlighting the urgency, Sebi, in its statement, said: “As the deadline for submitting investors’ claims against default broker Karvy Stock Broking Ltd is approaching shortly, investors are advised to take note of the above deadline and are urged to file their claims before the deadline, if not lodged already.”

For assistance, investors can reach out to NSE by calling its toll-free number 1800 266 0050 (select IVR option 5) or by emailing at [email protected], it added. In April 2023, Sebi barred KSBL and its CMD C Parthasarathy from the securities market for seven years and also imposed a penalty of Rs21 crore on them for misappropriating clients’ funds by misusing the Power of Attorney given to the broking firm.