Stocks

Karvy’s Company Secretary arrested

Our Bureau Hyderabad | Updated on September 03, 2021

 

The Central Crime Station in Hyderabad today arrested Y Sailaja, Company Secretary of Karvy Stock Broking Ltd for allegedly creating a false resolution document claimed to be passed in the board meeting held in 2018. In fact, this was not resolved in the actual meeting as per the original record of minutes of board of directors meeting. By falsely representing the said resolution document, C. Parthasarathy, CMD, KSBL, had availed loan of ₹350 crore by pledging the shares of its clients illegally from the complainant HDFC Bank and later defaulted in payments.

Published on September 03, 2021

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