Comment on On the Karvy Issue

Nithin Kamath commented on 01 Dec 2019, 03:28 AM

Like I have mentioned in the post above, we never pledge any client securities. The POA document doesn’t give us the right to pledge. What SEBI circular says is that securities were moved out using the POA and then pledged, so essentially misused. The only reason why we use the POA is to debit shares from your demat and transfer to the exchange when you have sold them on the exchange.

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