[2005 IPO Scam] PMLA Appellate Tribunal confirms provisional attachment of Karvy Consultant’s FDR of Rs 65 lakh
“A professional group like Karvy cannot abdicate its responsibility to ensure genuine transactions. The failure to exercise due diligence with respect to the work facilitated the key operators to earn huge profits out of the mala fide allotment of shares of the two entities i.e., Yes Bank Ltd. and IDFC in their IPO subscription.”