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What should existing clients of Karvy Stock Broking do?

Updated : November 27, 2019 06:33 AM IST

If you have a demat account with Karvy Stock Broking, these must be trying times for you. Last Friday, the capital market regulator, Securities and Exchange Board of India (SEBI) issued an interim order that banned Karvy Stock Broking from enrolling any new clients. The order was based on an inspection carried out by the National Stock Exchange that revealed how the broking outfit mis-used clients’ shares lying in their demat accounts, pledged such shares to raise money and transferred the same to its sister firm, Karvy Realty Pvt. Ltd. SEBI also put a freeze on all the power of attorneys that clients of Karvy Stock Broking had given to the firm. So, if you have your demat account, what should you do?
What should existing clients of Karvy Stock Broking do?
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