Karvy Stock Broking involved in IPO irregularities: Sebi

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Sebi had conducted a preliminary examination upon noticing certain irregularities with respect to IPOs of different companies. Reuters Sebi had conducted a preliminary examination upon noticing certain irregularities with respect to IPOs of different companies. Reuters
SummaryActs and conduct of Karvy Stock Broking are unfair and fraudulent...

in the retail category through various fictitious/ benami applicants.

Pursuant to the allotment, the shares were transferred to the demat account of these entities.

Further, it was also revealed that these key operators had transferred the shares through off-market deals to ultimate beneficiaries, who were the financiers in the process.

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