Karvy’s lenders look at DRT, IBBI options for recovery, says report

Lenders to Karvy Stock Broking Ltd have started exploring other avenues for recovery of dues including filing pleas with the Debt Recovery Tribunal (DRT) and Insolvency and Bankruptcy Board of India (IBBI), and selling minority stakes in sister concerns of Karvy, reported LiveMint.

According to the report, a total of seven entities have lent more than Rs 1,400 crore to the brokerage against share collateral worth Rs 2,319 crore.

“Most of the lenders have decided against appealing Sebi’s decision as by now majority of shares have been transferred to client accounts and are out of their reach," the newspaper quoted a person with direct knowledge of the matter.