Hyderabad Central Crime Station has arrested the Company Secretary of Karvy Stock Broking Ltd for allegedly creating a false resolution document claimed to be passed in the board meeting held in 2018.

The resolution was not passed  in the actual meeting as per the original record of minutes of board of directors meeting.

The false resolution was created by the said Company Secretary. By making this false document  representing the resolution of board meeting, C. Parthasarathy, CMD, KSBL, had availed loan of ₹350 crore by pledging the shares of its clients illegally from the complainant HDFC Bank and later defaulted in payments.

This has resulted in the arrest of the said CS.