Karvy Stock Broking Ltd are almost retail investors around 25,000 almost all of them are starting at uncertainty as they wait to regain access to their shares and receive payouts from the borking firm. However, some customer can change typically their brokers by opening an account with a rival brokerage by obtaining a client master report and issued a closure cum transfer request, most of the clients have alleged that the firm is deliberately delaying payout and also preventing them from moving to another broking firm.
“Karvy is not moving shares from the pool account to DP Holding (Demat account). Only when these transfers happen can we start trading with another brokerage firm,” a Mumbai-based investor said on condition of anonymity. “Not just that, payout requests are also not being honoured, purchased securities are also not being delivered in the Demat account of investors,” he alleged.
Many of the investors said several complaints which have been lodged against karvy with market regulator Securities and Exchange Board of India (SEBI) about this issue and action in this regard is awaited, Livemint reported.
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