SEBI cancelled Karvy Investor Services' registration as a merchant banker due to non-compliance.

SEBI cancelled Karvy Investor Services Ltd's registration as a merchant banker due to non-compliance with eligibility criteria, lack of required infrastructure, and involvement of a director in securities market-related litigation. The inspection found the company non-operational, lacking adequate office space, and not meeting the minimum staff strength requirements. The cancellation was made with immediate effect.