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IIFL Securities begins activation of 11 lakh frozen Karvy accounts
PTI
New Delhi |
Updated on
April 07, 2021
Accounts of Karvy s 11 lakh investors have been frozen for over a year
IIFL Securities on Wednesday said it has begun activation of 11 lakh frozen Karvy Stock Broking s demat accounts and the account holders can now trade or invest on its platform.
IIFL Securities won the official bid to acquire all demat accounts held by Karvy Stock Broking with National Securities Depository Ltd and Central Depository Services Ltd, the brokerage firm said in a statement.
The bidding process which began in early February has finally ended the ordeal of 11 lakh investors of Karvy whose accounts have been frozen for over a year.
IIFL Securities on Wednesday said it has begun activation of 11 lakh frozen Karvy Stock Broking s demat accounts and the account holders can now trade or invest on its platform. IIFL Securities won the official bid to acquire all demat accounts held by Karvy Stock Broking with National Securities Depository Ltd and Central Depository Services Ltd, the brokerage firm said in a statement. The bidding process which began in early February has finally ended the ordeal of 11 lakh investors of Karvy whose accounts have been frozen for over a year. The asset under management of these Karvy demat accounts stands at Rs 3 lakh crore.