Business Investors fret as Sebi bars brokerage Karvy over alleged misuse of client funds Updated : November 27, 2019 06:25 AM IST Karvy said in a statement over the weekend that there was no "mis-utilisation" of client securities. The Karvy Group serves 70 million individual investors and provides investment advice to more than 600 companies, according to its website. In its statement, Karvy said that Sebi's order only prevents it from adding new clients and that it had yet stated its position to the regulator. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.