General Trading Chat

siddhant4u

Well-Unknown Member
Maharashtra drama continues..

Fadnavis hurriedly sworn in as Maha CM to return Rs 40k cr to Centre: BJP’s Anant Hegde
However, Devendra Fadnavis has countered Hegde's remark and denied that he made such a decision
https://www.thenewsminute.com/artic...urn-rs-40k-cr-centre-bjp-s-anant-hegde-113301

I thought he was hurriedly sworn in to provide relief to Ajit Pawar :D
I guess Anant Hegde is Whatsapp University Student... :p these messages were circulating on whatsapp after fadanvis had to resign... lol..
 
I guess Anant Hegde is Whatsapp University Student... :p these messages were circulating on whatsapp after fadanvis had to resign... lol..
It was on some news channels too. Let's see how far this fire goes.
 
Good action by SEBI in Karvy case

https://www.moneycontrol.com/news/b...ities-worth-rs-2000-crore-report-4691961.html

Big relief in Karvy case: After swift SEBI crackdown, 93% of investors get back pledged securities
The NSE and the BSE, on December 2, suspended Karvy's trading license with immediate effect.

Tarun Sharma@talktotarun


Over 83,000 clients, or more than 93 percent, out of 90,000 clients of Karvy Stock Broking have received securities worth Rs 2,013.77 crore, which the broker had wrongly pledged with lenders.
"As per the direction of SEBI and under supervision of NSE, securities have been transferred... to the demat accounts of respective clients," NSDL said in an unreleased note. Moneycontrol has seen a copy of the note.
Most of the remaining accounts are in dispute with Karvy Stock Broking, so they may get their money/securities after clearing dues with Karvy.

The action in the case follows a crackdown by SEBI in the case, which came to light after Karvy started defaulting on client payouts. It later emerged that the broker had illegally pledged clients' securities with lenders to raise money.

The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), on December 2 suspended Karvy's trading license with immediate effect.

Moneycontrol was the first to break this story.

"This is one of the swiftest actions to restore investor securities to such a large number of genuine investors," a source close to the development told Moneycontrol.

"SEBI’s timely intervention averted another PMC Bank-like crisis or PACL-like default. Investors got back their securities before it was too late," another source said. "A bit more delay would have led the banks to invoke their pledge and appropriate the securities which Karvy had illegally pledged to banks for its personal loans."
Good action by SEBI in Karvy case

https://www.moneycontrol.com/news/b...ities-worth-rs-2000-crore-report-4691961.html

Big relief in Karvy case: After swift SEBI crackdown, 93% of investors get back pledged securities
The NSE and the BSE, on December 2, suspended Karvy's trading license with immediate effect.

Tarun Sharma@talktotarun


Over 83,000 clients, or more than 93 percent, out of 90,000 clients of Karvy Stock Broking have received securities worth Rs 2,013.77 crore, which the broker had wrongly pledged with lenders.
"As per the direction of SEBI and under supervision of NSE, securities have been transferred... to the demat accounts of respective clients," NSDL said in an unreleased note. Moneycontrol has seen a copy of the note.
Most of the remaining accounts are in dispute with Karvy Stock Broking, so they may get their money/securities after clearing dues with Karvy.

The action in the case follows a crackdown by SEBI in the case, which came to light after Karvy started defaulting on client payouts. It later emerged that the broker had illegally pledged clients' securities with lenders to raise money.

The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), on December 2 suspended Karvy's trading license with immediate effect.

Moneycontrol was the first to break this story.

"This is one of the swiftest actions to restore investor securities to such a large number of genuine investors," a source close to the development told Moneycontrol.

"SEBI’s timely intervention averted another PMC Bank-like crisis or PACL-like default. Investors got back their securities before it was too late," another source said. "A bit more delay would have led the banks to invoke their pledge and appropriate the securities which Karvy had illegally pledged to banks for its personal loans."
.........
So, this is why Bajaj Finance fell down today.

https://www.moneycontrol.com/news/b...rvy-have-right-to-pledged-shares-4693831.html

Bajaj Finance challenges SEBI decision on Karvy: 'Have right to pledged shares'
Bajaj Finance has moved the SAT to challenge SEBI's decision on restoring Karvy's pledged securities to its clients.
Tarun Sharma@talktotarun


Bajaj Finance has contested the decision of Securities and Exchange Board of India (SEBI) to return to Karvy’s clients the securities that the broking house had illegally pledged to raise money for itself.
The company today moved the Securities Appellate Tribunal (SAT), claiming that it has right to the pledged securities and that SEBI was wrong in returning the securities to accounts of Karvy’s clients.
Bajaj Finance made SEBI and Karvy party to the case. SAT will hear the matter on December 3.

The Karvy case came to light after the broking firm defaulted on payouts to clients, and it emerged that it had used client securities to raise money to trade – some of which had gone bad. Moneycontrol broke this story.


Banks have a total fund-based exposure of Rs 1,415 crore, according to a report.
 

siddhant4u

Well-Unknown Member
.........
So, this is why Bajaj Finance fell down today.

https://www.moneycontrol.com/news/b...rvy-have-right-to-pledged-shares-4693831.html

Bajaj Finance challenges SEBI decision on Karvy: 'Have right to pledged shares'
Bajaj Finance has moved the SAT to challenge SEBI's decision on restoring Karvy's pledged securities to its clients.
Tarun Sharma@talktotarun


Bajaj Finance has contested the decision of Securities and Exchange Board of India (SEBI) to return to Karvy’s clients the securities that the broking house had illegally pledged to raise money for itself.
The company today moved the Securities Appellate Tribunal (SAT), claiming that it has right to the pledged securities and that SEBI was wrong in returning the securities to accounts of Karvy’s clients.
Bajaj Finance made SEBI and Karvy party to the case. SAT will hear the matter on December 3.

The Karvy case came to light after the broking firm defaulted on payouts to clients, and it emerged that it had used client securities to raise money to trade – some of which had gone bad. Moneycontrol broke this story.


Banks have a total fund-based exposure of Rs 1,415 crore, according to a report.
it's either this or Rahul Bajaj's comment over intolerance and lynching :p
 

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