INVESTOR ISSUES


Karvy Stock Broking Ltd (KSBL) was expelled by the National Stock Exchange (NSE) on 22nd November—a whole year after the market regulator, Securities and Exchange Board of India (SEBI) had suspended its operations and barred it from taking on new clients. KSBL had illegally transferred and...

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Moneylife Digital Team 24 November 2020
The National Stock Exchange (NSE) has expelled Karvy Stock Broking Ltd (KSBL) from its membership, while declaring the brokerage as defaulter.   In a circular, NSE says, "...the member has been expelled from the membership of the Exchange under Rules 1 and 2 of the NSEIL Rules and has...

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Moneylife Digital Team 23 November 2020
Some investors of Franklin Templeton Mutual Fund (FTML) have sent a legal notice to market regulator Securities and Exchange Board of India (SEBI) seeking vigilance enquiry and action against officials who allowed the mutual fund to increase borrowing limits from 20% to 30% for two schemes,...

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Moneylife Digital Team 18 November 2020
On Wednesday, the National Stock Exchange (NSE) admitted that the Securities and Exchange Board of India (SEBI) has directed the Exchange to conduct a review and to ascertain the adequacy of its investor protection fund (IPF), disclose the corpus on its website and update it on a monthly...

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Moneylife Digital Team 17 November 2020
The National Stock Exchange (NSE) has settled claims worth Rs2,300 crore of as many as 2.35 lakh investors of Karvy Stock Broking Ltd. NSE says claims of investors with a fund balance of up to Rs30,000 have been settled.   We learn that this is just one stage of the action against...

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Moneylife Digital Team 14 November 2020
Many months after investor-clients of Anugrah Stock & Broking Pvt Ltd (ASBPL) were made to run from post to pillar to retrieve their money, market regulator Securities and Exchange Board of India (SEBI) has finally swung into action. In an order, SEBI has suspended Anugrah Stock & Broking,...

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On 29th September, I wrote about how Sahara Pariwar had apparently raised over Rs1.10 lakh crore in 10 years, during a traumatic phase where the group patriarch had been incarcerated for almost two years by the Supreme Court of India. These sensational numbers came from information put out by...

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Moneylife Digital Team 05 November 2020
The Securities Appellate Tribunal (SAT) on Thursday asked Edelweiss Custodial Services Ltd to give an undertaking to NSE Clearing Ltd (NCL) that it will deposit Rs212 crore within two weeks from its final decision.   In an order, the SAT bench comprising Justice Tarun Agarwala, Dr CKG...

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IANS 05 November 2020
The members registered on BSE have now been permitted to solicit and accept futures and options orders and related funds from customers located in the US for futures and options transactions on the Indian stock exchange without registering as a futures commission merchant.   In a...

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Moneylife Digital Team 03 November 2020
The Bombay High Court on Tuesday directed National Stock Exchange (NSE) to release some money to thousands of investor-clients of Anugrah Stock & Broking Pvt Ltd. This may be challenged by the NSE at the next hearing of the case scheduled for 5th October.    At the hearing, advocate...

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Moneylife Digital Team 03 November 2020
The senior citizen savings scheme (SCSS) is a government-backed scheme which offers a great avenue for senior citizens to invest a part of their retirement corpus and earn quarterly interest. Safety of principal and assured periodic returns play a key role while choosing an investment scheme...

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I am an eternal pessimist and a staunch believer in Murphy’s law. That is why I have turned myself into an idiot, knowingly, in order to protect my capital from any fallout of coronavirus (COVID-19) pandemic.   Let me explain the idiocy part first. The pessimism part will...

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Moneylife Digital Team/ IANS 24 October 2020
In a major victory for mutual fund (MF) investors, the Karnataka High Court (HC) on Saturday restrained Franklin Templeton Mutual Fund (FTMF) India's decision from winding up its six debt schemes without obtaining the consent of unitholders. The HC also passed strictures against Securities...

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In a breakthrough for retail investors, concerted action by hundreds of victims of a failed brokerage firm is holding regulators accountable and focusing sharper attention on the lapses of clearing members and intermediaries. They are getting far better results than individual complaints with...

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Moneylife Digital Team 21 October 2020
The market regulator today admitted that investor protection fund (IPF) with stock exchanges is 'woefully insufficient'. Mr Ajay Tyagi, chairman of the  Securities and Exchange Board of India (SEBI) said this in response to a media query at a event organised by the Confederation of Indian...

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In a 60-page order issued on 20th October, the NSE Clearing Ltd/ National Stock Exchange (NSE) has asked Edelweiss Custodial Services Ltd to credit Rs460 crore that was provided as a bank guarantee by Anugrah Stock & Broking Pvt Ltd (Anugrah) to an escrow account. Following an investigation,...

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Moneylife Digital Team 19 October 2020
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs4.5 crore on IndusInd Bank for violating norms such as ‘exposure norms’, ‘prudential norms on income recognition, asset classification and provisioning pertaining to advances’, etc.    The RBI release mentions that...

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Moneylife Digital Team 16 October 2020
Close on the heels of several brokerages shutting shops, Mumbai-based Action Financial Services (India) Ltd (AFSL), a listed company, has also closed its business as stock trading member. While AFSL has disabled its terminals from 18 September 2020, several of its clients are clueless about...

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Moneylife Digital Team 16 October 2020
Investors of Modex International, a brokerage firm, which has apparently duped investors of around Rs100 crore can finally hope to get some money from stock exchange investor protection funds.  Although the largest default was on the National Stock Exchange (NSE), the Bombay Stock Exchange...

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Moneylife Digital Team 14 October 2020
In a petition before the Bombay High Court, hundreds of investors of Anugrah Stock & Broking Ltd have come together to demand the setting up of a multi-agency special investigation team so that the assets are consolidated and auctioned efficiently. The petition has made the National...

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