Bajaj Finance has contested the decision of Securities and Exchange Board of India (SEBI) to return to Karvy’s clients the securities that the broking house had illegally pledged to raise money for itself. The company today moved the Securities Appellate Tribunal (SAT), claiming that it has right to the pledged securities and that SEBI was wrong in returning the securities to accounts of Karvy’s clients. Bajaj Finance made SEBI and Karvy party to the case. SAT will hear the matter on December 3. Stocks was down in trade yesterday on the back of this development, outcome from SAT decision today will be keenly monitor.
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BAJFINANCE 
Reputation: 17,566 • Dec 3, 2019 9:19 PM
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