Sebi to come out with circular to prevent Karvy-like incidents: Ajay Tyagi

Sebi chief Ajay Tyagi on Monday said it will shortly come out with a round to reduce incidents like Karvy Broking Solutions Ltd (KSBL), which experienced allegedly misused clients’s securities, and asserted that whatever action necessary will be taken.

“We will just hold out and see,” he said, referring to the dues to be compensated by KSBL.

As of February 14, Tyagi said the full dues of KSBL stood at Rs one,189 crore.

“Securities held by financial institutions are Rs 511 crore, and the financial institutions have no funds. The full shortfall in securities is Rs 183 crore, and funds is Rs 495 crore. So, the shortfall is Rs 678 crore,” he pointed out.

In November, the watchdog barred KSBL from having new brokerage shoppers after it was discovered that the brokerage business experienced allegedly misused clients’ securities to the tune of much more than Rs two,000 crore.

According to

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Airtel, Voda Idea make part payment; DoT mulls encashing bank guarantees

Just after a Supreme Courtroom rap for missing payment deadline, prime telecom firms Bharti Airtel, Vodafone Thought and Tata Teleservices on Monday scrambled to spend a portion of the exceptional dues even as the apex courtroom refused to halt the government from having coercive action for any further hold off in clearing comprehensive dues.

When Airtel paid Rs ten,000 crore, Vodafone Thought Ltd set in Rs two,500 crore and promised to spend one more Rs one,000 crore before the close of the week. Tata Teleservices Ltd paid Rs two,197 crore, the complete exceptional it thinks to have arisen after the October 24 ruling of the apex courtroom for calculating dues after introducing non-telecom revenues.

The Section of Telecommunications (DoT), which was last week rapped on the knuckles for buying no coercive action even after telcos skipped the January 23 payment deadline set by the Supreme Courtroom, is mulling the possibility

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