The Enforcement Directorate in a latest development regarding investigations into the alleged money laundering by Karvy Stock Broking Ltd (KSBL), has attached its ₹110 crore worth assets, a release on Saturday stated.
The ED had already attached ₹1984.84 crore worth assets in the same case.
The investigations were on the basis of First Information Reports filed by the central crime station, Hyderabad police. The complaints against KSBL by its lender banks were that it had availed large amounts of loans by illegally pledging the clients’ shares worth about ₹2,800 crore. The loans later became non-performing assets, as the clients’ securities were released on orders of NSE and SEBI.
