What does this mean for clients?.
Clients of KSBL can no longer trade using their broking or trading accounts in KSBL, following the suspension orders from the exchanges. For those with open trading positions, BSE’s RRM mode could be of respite. While the exchanges have prohibited fresh positions (and roll over), squaring off the existing positions is however permitted. NSE, too, is reported to be allowing closing of existing open derivative positions.
That apart, experts believe that the suspension does not mean doomsday for all clients of KSBL. Clients who have already taken delivery of their traded securities, can transfer their shares to a demat account with another brokerage. The same is the case with those who have opened a demat account with Karvy solely for the purpose of investing in mutual funds.
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