ED attaches assets worth over Rs 134 crore in Karvy Group money laundering case
Thursday, 26 October 2023
The Directorate of Enforcement (ED) has attached assets worth Rs 134.02 crore in the form of preference shares of KFin Technologies Ltd. The investigation revealed that the shares were held in the name of the son of the CMD of Karvy Stock Broking Ltd. The ED initiated the investigation based on FIRs alleging illegal pledging of clients' shares and diversion of loan funds to related companies. The shares were redeemable after two years at a net redemption premium of Rs 134.02 crore. The total value of attachments in the case is now Rs 2,229.56 crore.
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