Karvy — non-receipt of dividend warrant of shares held in maruti suzuki india ltd | |
First i got the mail that the dividend amount for my shares are credited to my bank account on 30th aug 2019. But after checking my account i saw that the same is not credited to my account. After that i am continuously complaining to karvy from 18th sep 2019 through numerous mails but still there is no resolution from their side. Initially they tried to evade the situation by claiming dividend has been paid then they said we will check with the banker and after that its been 1 month they are not giving any reply. Please guide me for next steps i should pursue. My details are as below: Folio : 12081600/[protected] No of shares: 19 Dividend amount: 1520 Regards Abhisek patra Was this information helpful? | |
Karvy customer support has been notified about the posted complaint. | |
3 Comments | |
Comments
I also have shares worth 3.5 lakhs in karvy .
IN MY HOLDING STATEMENT
IOC-2226
UTTAM VALUE -100000
IN MY DEMAT HOLDING STATEMENT
IOC-2187
UTTAM VALUE -10000
While i ask they informed the balance shares in pool account .i called several times to transfer
they are not transferring to my demat account .
Dont know what to do.
IN MY HOLDING STATEMENT
IOC-2226
UTTAM VALUE -100000
IN MY DEMAT HOLDING STATEMENT
IOC-2187
UTTAM VALUE -10000
While i ask they informed the balance shares in pool account .i called several times to transfer
they are not transferring to my demat account .
Dont know what to do.
prembasu001's reply, Dec 1, 2019
Regarding karvy's problem contact me or send your contact details.
Regards
prem
87799726822/9818679294
Regards
prem
87799726822/9818679294
@Abhisek Patra
please check your holding statement and demant holding statement .
If your shares in pool account then you will not get divided .
its illegal to keep our share in pool account
please check your holding statement and demant holding statement .
If your shares in pool account then you will not get divided .
its illegal to keep our share in pool account
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Sebi said the firm misused client collateral for its own trades. As per Sebi’s intermediary regulations, brokerage firms cannot create additional pledges on clients’ securities.
In an effort to prevent further misuse of clients securities, Sebi, as an interim measure, barred Karvy from taking any more clients in respect of its stock broking business till the regulator completes its investigations. Karvy was also been barred from acting on behalf of its clients.
Sebi has initiated a forensic audit to establish the extent of alleged misuse of client pledges, and directed exchanges and depositories to initiate disciplinary proceedings against the brokerage firm.
However, in view of the fact that Karvy manages a large number of clients, Sebi is ensuring smooth operations by asking depositories to monitor the flow of money from clients’ accounts.
Sebi said Karvy, despite not having any legal rights to create a pledge on these securities and generate funds, did so to the tune of ₹2, 000 crore. “Even if the client securities were pledged, it should be (used) only for meeting the obligation of the respective clients, " said Sebi member Ananta Barua in a 12-page order.
The order said an NSE inspection showed Karvy had transferred a net amount ₹1, 096 crore to its group firm Karvy Realty between April 2016 and October 2019.
The brokerage also sold pledged client shares via off-market transfer as its own in five out of nine client accounts amounting to ₹228.07 crore in 2019, and transferred stocks worth ₹27.8 crore from 156 clients. None of these trades were executed or authorized by the clients.
Apart from prohibiting the entity from taking new clients in respect of its stock broking activities, the watchdog directed NSDL and CDSL not to act upon any instruction given by Karvy in pursuance of power of attorney given by its clients. Karvy has been given 21 days time from the date of receiving the order to file its objections or responses, if any, PTI reported.