<p>The Central Crime Branch (CCB) has detained a stock broker for questioning in cases pertaining to the Hyderabad-headquartered stock brokerage, Karvy Stock Broking Limited (KSBL). </p>.<p>In separate police complaints recently, three businessmen from Bengaluru alleged that the company had pledged securities lying in their demat accounts without their knowledge and used the funds for its multiple businesses in violation of SEBI regulations. </p>.<p>A source in the police estimated the losses incurred by the three clients at Rs 100 crore. Given the seriousness of the matter, Bengaluru police chief Kamal Pant ordered the CCB to take over the three cases. </p>.<p>The CCB identified the detained person as Vijayendra, the firm’s Bengaluru zonal stock broker. “We are going to produce him before the court and seek his custody for further investigation,” a senior police officer said. </p>.<p>Police in Hyderabad have made a few arrests in the case. Bengaluru police may approach the local court to get them on body warrant for questioning once the cops in Hyderabad are done interrogating them, the officer added. </p>.<p>Police have urged the firm’s other customers in Bengaluru to come forward and file complaints if they have lost money. </p>
<p>The Central Crime Branch (CCB) has detained a stock broker for questioning in cases pertaining to the Hyderabad-headquartered stock brokerage, Karvy Stock Broking Limited (KSBL). </p>.<p>In separate police complaints recently, three businessmen from Bengaluru alleged that the company had pledged securities lying in their demat accounts without their knowledge and used the funds for its multiple businesses in violation of SEBI regulations. </p>.<p>A source in the police estimated the losses incurred by the three clients at Rs 100 crore. Given the seriousness of the matter, Bengaluru police chief Kamal Pant ordered the CCB to take over the three cases. </p>.<p>The CCB identified the detained person as Vijayendra, the firm’s Bengaluru zonal stock broker. “We are going to produce him before the court and seek his custody for further investigation,” a senior police officer said. </p>.<p>Police in Hyderabad have made a few arrests in the case. Bengaluru police may approach the local court to get them on body warrant for questioning once the cops in Hyderabad are done interrogating them, the officer added. </p>.<p>Police have urged the firm’s other customers in Bengaluru to come forward and file complaints if they have lost money. </p>
