For instance this article is so full of contradictions it'll make your head hurt.
How is the exposure 2.8k when the loans are 0.6k? Also, that's a severe haircut (0.6k/2.3k ~ 75% haircut) - Bajaj Finance must've known something's up - probably why they're so eager to enter the brokerage business themselves
A 345 cr disbursal based on an undertaking perhaps without a cursory check of the applicant's balance sheet! That would be a new record level of retardation.
Sebi has estimated the total exposure of lenders to Karvy at ₹2,800 crore, of which Bajaj Finance has an exposure of ₹345 crore as per a copy of the petition reviewed by Mint.
Karvy took loans to the tune of ₹600 crore by pledging securities worth more than ₹2,300 crore of 95,000 clients with lenders.
The petition also says Karvy had given a false undertaking to Bajaj Finance that these securities belonged to the brokerage.