Financial Daily from THE HINDU group of publications
Monday, May 29, 2006
Financial Daily from THE HINDU group of publications Monday, May 29, 2006 |
|
|
|
|
|
|
|
Home Page
-
Regulatory Bodies & Rulings Markets - Financial Services Industry & Economy - Economic Offences Our Bureau
Hyderabad , May 27 While welcoming the breather it got from SEBI on Friday with regard to serving its 7.25 lakh DP customers, Karvy has said the embargo on opening new demat accounts and participating as Registrars to IPOs continue to worry the company. Reacting to the SEBI order on Saturday, Mr J. Ramaswamy, Vice-President (Corporate Affairs), said the restraint on opening new demat accounts and the mandate for acting as Registrar for IPOs would be decided after the enquiry ordered by the SEBI. "The senior management is in discussion with the legal counsels and we are exploring various options in this regard," he said. The Friday order of SEBI has cleared doubts about the future of Karvy's 7.25-lakh DP customers, giving a major relief to the company. The Hyderabad-based company also termed it positive the decision to keep its mutual fund registry business out of the purview of the order. "This means that Karvy Mutual Fund registry can service new AMCs (asset management companies) as act as Registrars for NFOs (new fund offers)," he said.
More Stories on : Regulatory Bodies & Rulings | Financial Services | Economic Offences | IPOs
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|