Karvy a tip of iceberg: Camera lens on 3 dozen agents for Rs 10k-crore fund misuse

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Marketplace regulator Securities and Swap Board of India (Sebi) has trained weapons on much more broker agents for indulging in the technique of utilizing clients’ shares. Sources say the issue is not restricted to just Karvy Carry Broking, with over three dozen much more brokers under camera lens for misappropriating customer funds for the tune of Rs 10,000 crore. The problem has arrived to lighting after many agents overlooked the August 31 due date set up by Sebi for returning customer funds. Market gamers stated the problem could snowball in to a greater difficulty if these broker agents are unable to give back buyer cash or have …

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