Existing Karvy DP holders unaffected: Sebi

Securities and Exchange Board of India (Sebi), in order issued a short while ago, said depository acccount holders with Karvy would remain unaffected by the earlier order asking them to shift to other depository participants (DPs).

According to a flash on NDTV Profit, the order added that the embargo on new DP accounts with Karvy would continue.

Karvy can continue mutual fund registery work, but cannot take any new IPO work pending final order, the report said.

According to a statement by C Parthasarathy, chairman of Karvy Stock Broking, on NDTV Profit, an officer would be appointed to enquire into the issue, and "we can continue to service existing clients."