Saturday, June 14, 2008

APPELLATE TRIBUNAL SETS ASIDE SEBI ORDER ON KARVY

The Securities Appellate Tribunal has set aside SEBI’s disgorgement order on Karvy Stock Broking Ltd. in the IPO allotment case. This is in line with SAT’s November 2007 order setting aside the same
disgorgement order on nine other entities, including National Securities Depositories Ltd.

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