Categories: Hyderabad

KARVY SCAM: 1,300 HYD clients complain to NSE

Hyderabad: Investigation into RS 780 Crore Bank Default Case Karvy Stock Broking Ltd (KSBL) has revealed how 1,300 clients throughout the city have submitted complaints with the National Stock Exchange (NSE) against KSBL between 2016 and 2021.
“We entered touch with clients This client to find out how they were cheated by trusting KSBL and their statements were recorded, “said a police officer.
Police said NSE officials told them how the Chair of the KSBL and MD C Parthasarathy and several employees suspected of removing data.
Likewise, the police also obtained a forensic audit report carried out by Ernst and Young (EY) against KSBL.
“According to the EY report and its summary, after Parthasarathy was informed by NSE that EY will visit the KSBL place to access the main employee system, they have recorded various files and emails from their respective systems,” Hyderabad police said with nampell.
The court quoted the TA report.
The EY report further said: “Employees, including Parthasarathy use an anti-forensic tool to remove data .
He also told the police that he tried to repay loans to all the banks concerned.
The police said that Parthasarathy was mainly authorized by the KSBL Board of Directors to handle loan issues from 2013 and have permissions needed to take loans to securities and sign personal guarantees for loan.

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