ED Gets 4 Day’s Custody of Karvy Group CMD, CFO in Rs2,874 crore Money Laundering Case

A special court on Thursday granted the Enforcement Directorate (ED) four day’s custody of Karvy Group chairman and managing director Comandur Parthasarathy and its chief financial officer G Krishna Hari for questioning in a multi-crore money laundering case. The case relates to alleged illegal diversion of client’s securities worth Rs 2,837.82 crore by Karvy Stock Broking Ltd(KSBL) and pledging them to take loans from banks and non-banking financial companies (NBFCs), and subsequent loan default, the agency said S-ET

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