‘Karvy indulged in IPO scam’

MUMBAI: Karvy Computershare engaged in fraudulent activities with respect to certain initial public offerings in 2005, market regulator Sebi said on Monday.
While noting that Karvy Computershare was liable to be restricted from acting as an RTI (Registrar to Issue and share transfer agent) “for a period of nine months”, Sebi said the entity has already undergone prohibition for approximately 10 months.
“In view of the same, no further penalty is warranted,” the regulator said in an order.