Karvy Stock Broking, one of India’s largest retail brokerages, became mired in controversy last year after several investors complained about delays in receiving payment funds for their trades. The Securities and Exchange Board of India, after learning of the case and exercising due diligence, banned the brokerage firm from taking new business on November 22, 2019 for embezzlement of client funds.
Cut to a year later, the NSE and ESB on November 24, 2020 declared the brokerage firm to be “failing” and kicked it out of their membership.
In this edition of the Business Standard podcast, Nikita Vashisht talks with B Gopkumar, MD and CEO of Axis Securities, about the way forward for corporate clients.
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