If the Bombay High Court favours the RBI in its judgement in this dispute, it would appear that the latter is empowered to invoke Section 46(1) on Uday Kotak, the CEO and Dipak Gupta, the joint managing director of the bank, as it has specifically used the word, “wilful” to describe the bank’s conduct.
India’s capital markets regulator, the Securities and Exchange Board of India (SEBI), on September 19, 2024 passed an interim order on Axis Capital (a...
The regulatory action started after a report by a SEBI-registered analyst Hemindra Kishen Hazari highlighted concerns about Axis Capital’s high-risk transactions earlier this year.