Karvy Stock Broking Head Arrested For Fraud, Securities Norms Violation

Karvy Stock Broking Chairman and Managing Director C Parthasarathi was today arrested for cheating and misuse of clients' funds, the Hyderabad police said today. The founder of the financial services company was taken into custody following a complaint by IndusInd Bank alleging that his firm had defaulted on a Rs 137-crore loan.