https://www.taxtmi.com/caselaws?id=391992 The appeals challenging the ex-parte ad interim order by SEBI in the matter of M/s. Karvy Stock Broking Ltd. were consolidated. The main issue was the transfer of securities back to clients during a pending forensic audit. The appellants, banks lending money to Karvy based on pledged securities, argued for their rights under the Depositories Act. Despite emphasizing compliance and due diligence, the tribunal declined further relief, highlighting the implications of alleged fraud and the need for SEBI involvement. The appeals were disposed of with no order on costs, directing the parties to seek further actions from SEBI. en-us Wed, 04 Dec 2019 00:00:00 +0530 Tue, 11 Feb 2020 07:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391992 The appeals challenging the ex-parte ad interim order by SEBI in the matter of M/s. Karvy Stock Broking Ltd. were consolidated. The main issue was the transfer of securities back to clients during a pending forensic audit. The appellants, banks lending money to Karvy based on pledged securities, argued for their rights under the Depositories Act. Despite emphasizing compliance and due diligence, the tribunal declined further relief, highlighting the implications of alleged fraud and the need for SEBI involvement. The appeals were disposed of with no order on costs, directing the parties to seek further actions from SEBI. Case-Laws SEBI Wed, 04 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391992