Karvy Stock Broking Ltd

However, Sebi has allowed the entity to continue with primary market activities that have been undertaken before Monday's order.

In a major order with regard to the IPO scam of 2003-2005, market regulator Securities and Exchange Board of India (Sebi) has barred Karvy Stock Broking Ltd (KSBL) from taking up new assignments or launching new schemes for six months in respect of its role as a stock broker.

Sebi has found that Karvy Stock Broking Depository Participant indulged in irregularities with respect to initial public offerings of certain companies way back in 2005.

However, Sebi has allowed the entity to continue with primary market activities that have been undertaken before Monday's order.

In a major order with regard to the IPO scam of 2003-2005, market regulator Securities and Exchange Board of India (Sebi) has barred Karvy Stock Broking Ltd (KSBL) from taking up new assignments or launching new schemes for six months in respect of its role as a stock broker.

Sebi has found that Karvy Stock Broking Depository Participant indulged in irregularities with respect to initial public offerings of certain companies way back in 2005.