Sebi had banned the Karvy and its promoters from the market for seven years through its order in April this year. Securities and Exchange Board of India (Sebi), India's market regulator, has cancelled the certificate of registration of Karvy Stock Broking (KSBL). Sebi issued this order on May 31, Wednesday. "Irrespective of the cancellation of the Certificate of Registration, the Noticee shall continue to be liable for anything done or omitted to be done as a Stock Broker and continue to be responsible for payment of outstanding fees and dues, if any, payable to Sebi," the Sebi order stated. “This Order shall come into force with immediate effect,” it added. Sebi had banned the Karvy and its promoters from the market for seven years through its order issued on April 28, 2023. This was done for various violations including misappropriation of clients’ securities and diverting the proceeds from pledging them to the stock broker’s associate companies. "The Depositorie...