The Securities and Exchange Board of India (Sebi) has issued a final reminder to investors of Karvy Stock Broking Ltd (KSBL), urging them to submit their claims before the June 2, 2025 deadline.
KSBL was declared a defaulter by the National Stock Exchange (NSE) on November 23, 2020, following allegations of misappropriating client funds through unauthorized pledging of securities. Since then, affected investors have been invited to file claims against the brokerage firm, with Sebi now emphasizing the urgency of the approaching deadline.
To assist investors, NSE has provided a toll-free helpline (1800 266 0050, IVR option 5) and an email support channel (defaultisc@nse.co.in) for queries related to the claims process.
In April 2023, Sebi barred KSBL and its Chairman and Managing Director, C Parthasarathy, from the securities market for seven years, imposing a ₹21 crore penalty for fund misappropriation. The regulatory action stemmed from KSBL’s large-scale asset mobilization drive, where it pledged client securities without consent, leading to defaults in settling investor funds.
With the June 2 deadline fast approaching, Sebi has urged investors who have not yet filed their claims to do so immediately to ensure their grievances are addressed.
