Does anybody know for sure which entity took the loan? Some reports suggest it was the stock broking entity, others report it was a real estate entity. There are also reports that the (demat?) account pledged with banks is not on the balance sheet/accounts of the entity which took the loan. Where was the due diligence by the banks during the loan disbursal? Blame spread all around - Karvy, Bajaj Finance, other lenders. Karvy clients shouldn't have to pay for a massive failure in regulation and corporate self regulation.
I'm curious what they managed to lose hundreds of crores on in a few months? Takes some special trading ability to pull that off. Or were there no significant losses?
I'm curious what they managed to lose hundreds of crores on in a few months? Takes some special trading ability to pull that off. Or were there no significant losses?