February 23, 2007
PR No. 65/2007

Order in the matter of M/s. Karvy Computershare Pvt. Ltd.

Shri G. Anantharaman, Whole Time Member, SEBI has passed an order on February 22, 2007, lifting the directions issued vide interim order dated May 26, 2006 against M/s. Karvy Computershare Pvt. Ltd. (KCPL), whereby it was directed not to act as a registrar to an issue and as a share transfer agent (pending enquiry and passing of final orders) as ordered therein. The main allegation against KCPL is that it acted in concert with other entities of Karvy group and abetted the key operators in cornering allotment in IPOs. The order states that �the final findings as to the role of KCPL can be determined only when the final findings as to the role of M/s. Karvy Stock Broking Ltd. (KSBL) is determined in the enquiry proceedings pending against it�. 
This order has been passed without prejudice to the pending enquiry proceedings against KSBL and is subject to final decision to be taken thereafter against KSBL and KCPL.


February 23, 2007


For full copy of order against Karvy Computershare Private Ltd. click here.