Skip to content

NSE Revokes Karvy Stock Broking’s Membership

We provide instant Stock Market updates on our Telegram Channel : Follow Now

The National Stock Exchange (NSE) has declared Karvy Stock Broking Ltd as defaulter and has revoked the membership effective from Monday Market Closing.

“All members are hereby informed that the Karvy Stock Broking has been expelled from the membership of the Exchange under Rules 1 and 2 of Chapter IV of the NSEIL Rules and has been declared as defaulter under provision 1 (a) of Chapter XII of Exchange Bye laws w.e.f. November 23, 2020, after close of market hours,” NSE said in the media release on November 23rd 2020.

karvy broking defaulter and expulsion of trading member nse

In November 2019, Karvy Stock Broking had transferred securities worth ₹2,300 crore in to its account by misusing power of attorney given by its clients. This fund was later used for other personal purpose such as Karvy Reality Ltd.

On 17 November NSE said that the funds and securities worth ₹2,300 crore belonging to about 2.35 lakh investors of Karvy Stock Broking Ltd have been settled so far.


Abhishek Vohera

I am Software Engineer and Stock Market Enthusiast. Expert in Algo Trading, sharing valuable insights on Above Stocks. Combines technological expertise with a keen financial understanding.View Author posts

Share this post on social

Leave a Reply

Your email address will not be published. Required fields are marked *

About us

Above Stocks is your trusted source for comprehensive stock market insights, news, and expert recommendations. Empowering investors with knowledge and confidence for financial success.

Disclaimer: Stock Market investments are subject to market risks. All the information provided on our Portal is for education purposes only. Kindly consult your Financial Advisor before taking any decision.