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We had carried a news report in the edition dated May 27 under the caption "IPO scam: SEBI bars Karvy group entities". We had mentioned that SEBI has in its latest order, barred Karvy Stock Broking Ltd from acting as a Depository Participant. The correct position is that the market regulator has only prohibited the company from accepting fresh clients for its DP business but is otherwise allowed to service its existing ones.

Further, we had also omitted to report that the ban imposed by SEBI on the Group's share registrar and share transfer arm Karvy Computershare Pvt Ltd from undertaking such work, did not apply to contracts already entered into by the firm at the time of SEBI's interim order.

We deeply regret the error.

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SEBI embargo worries Karvy

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