{"id":102193,"date":"2023-04-28T10:25:00","date_gmt":"2023-04-28T04:55:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=102193"},"modified":"2023-04-28T10:22:17","modified_gmt":"2023-04-28T04:52:17","slug":"sebi-bars-karvy-investor-services-from-taking-new-clients-for-flouting-market-norms","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/sebi-bars-karvy-investor-services-from-taking-new-clients-for-flouting-market-norms\/","title":{"rendered":"Sebi bars Karvy Investor Services from taking new clients for flouting market norms"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3413702326\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Markets regulator Sebi on Thursday barred Karvy Investor Services Ltd (KISL) from taking new clients for allegedly violating regulatory norms.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1404470494\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The order came after Sebi carried out an physical inspection for the purpose of verifying its compliance status with various regulatory requirements while handling the public issues of debt securities during FY 2021-22.<\/p><p>In a 13-page ex-parte ad interim order, Sebi found that KISL neither has any physical infrastructure nor any employee working for it. Without any physical infrastructure and employees no merchant banking activity can be carried out.<\/p><p>So, it is concluded that KISL is no longer in operation as a Sebi-registered merchant banker.<\/p><div class=\"trade-content_5\" id=\"trade-1296801506\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>By not having the necessary infrastructure and manpower to discharge its activities as a merchant banker, KISL has violated Merchant Bankers (MB) regulations, Sebi said in the order.<\/p><p>&#8220;Presence of such an entity (KISL) which is not in operation, and which is in breach of the eligibility conditions for being a Sebi registered merchant banker, could pose a serious threat to the integrity of the securities market and the interests of investors,&#8221; Sebi&#8217;s whole-time member Ashwani Bhatia said in the order.<\/p><p>KISL had also not paid the renewal fee for the block, December 2022 to December 2025, to the regulator as prescribed MB norms, Sebi noted.<\/p><p>Accordingly, KISL is restrained from taking any new clients or assignments till further orders.<\/p><p>The direction takes effect immediately and will be in force until further orders, it added.<\/p><div class=\"trade-after-content\" id=\"trade-152877972\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Markets regulator Sebi on Thursday barred Karvy Investor Services Ltd (KISL) from taking new clients for allegedly violating regulatory norms. The order came after Sebi carried out an physical inspection for the purpose of verifying its compliance status with various regulatory requirements while handling the public issues of debt securities during FY 2021-22. In a [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":94946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-102193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sebi bars Karvy Investor Services from taking new clients for flouting market norms - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Markets regulator Sebi on Thursday barred Karvy Investor Services Ltd (KISL) from taking new clients for allegedly violating regulatory norms.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/?p=102193\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sebi bars Karvy Investor Services from taking new clients for flouting market norms\" \/>\n<meta property=\"og:description\" content=\"Markets regulator Sebi on Thursday barred Karvy Investor Services Ltd (KISL) from taking new clients for allegedly violating regulatory norms.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/?p=102193\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-28T04:55:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/03\/SEBI-cover-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/03\/SEBI-cover-image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/?p=102193\",\"url\":\"https:\/\/tradebrains.in\/features\/?p=102193\",\"name\":\"Sebi bars Karvy Investor Services from taking new clients for flouting market norms - 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