After the fallout of Anugrah Stock & Broking, Moneylife Foundation had organised a series of webinars and also created a telegram group in an effort to pool resources and ideas of troubled investors. With the recent announcement from the National Stock Exchange (NSE), Karvy Stock Brokers were also finally declared as defaulters.
Moneylife Foundation has already been assisting a few investors recover their investments from Karvy and with numerous requests from troubled investors, we decided to create a group on Telegram specifically for Karvy investors to share ideas and resources in recovery of their investments. With the aim to educate investors, we invited Advocate Ravi Hegde, who has been handling a petition in the High Court for a select group of Anugrah investors, to explain what options Karvy’s investors have on the path to recovering their investments.
In a succinct and easy to understand manner, Advocate Hegde first clarified the position of the Anugrah case and then explained why it is important for Karvy investors to first collate all data and documentation relevant to their investments. Whether they would raise a complaint through traditional means on the NSE platform or through a petition in the High Court, a clear picture first needs to be formed on the nature of the investments and their present status. The next steps will then have to be decided accordingly.
The session was attended by 490 participants on Zoom, while over 100 watched the livestream on Moneylife Foundation’s YouTube and Facebook channels. A brief talk from Advocste Ravi a Hegde was followed by a discussion and Q&A session with the participants.
Video recording of the session: