Sebi cancels registration of Karvy services

New Delhi, March 28

Capital markets regulator Sebi on Thursday cancelled the registration of Karvy Investor Services Ltd (KISL) as a merchant banker for breach of eligibility criteria.

The order came after the Securities and Exchange Board of India (Sebi) conducted an inspection of Karvy Investor Services during March 15-17, 2023 and in the onsite inspection, the regulator found that the merchant banker was not functioning or operational both at the registered as well as in the correspondence address. Additionally, the regulator has not paid the renewal fee for the block from December 13, 2022, to December 12, 2025, it added.

Accordingly, the regulator has cancelled “the certificate of registration…of Karvy Investor Services Ltd”.