Karvy, CAMS interested in verification job in Sahara case

At least four entities — Karvy, CAMS, NSDL and CDSL — have evinced interest in bidding for the job of verifying genuineness of about three crore investors in high-profile Sahara case on behalf of the market regulator Securities and Exchange Board of India (Sebi).

Sebi is in the process of selecting an in-person verification (IPV) agency currently to conduct face-to-face verification of an estimated three crore bondholders of two Sahara group firms, by checking their identify and address proofs.

The Supreme Court has asked Sebi to facilitate refund of about Rs 24,000 crore with 15 per cent annual interest to these investors after ascertaining their genuineness.

While Sebi has extended the bid submission deadline for selection of such an IPV agency by a month till December 21, a pre-bid meeting arranged by the market regulator with the interested parties was attended by representatives of at least four KYC registration agencies (KRAs).

Sebi has invited bids from public sector banks as well for IPV agency, but the pre-bid meeting, held on November 7 at Sebi headquarters in Mumbai, was not attended by any bank representative, as per the minutes of the meeting.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India’s festivals teach us to share our wealth and joy

    India is an aporia in its own true sense.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture