“Groups that are perceived as politically connected can still tap the banks for loans,” says Hemindra Hazari, a Mumbai-based banking analyst. “If you are any other highly stressed group, then it is difficult for you.”
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.
A registered research analyst's article had flagged the irregularity in Axis Capital's (ACL's) handling of a non-convertible debenture issue to the market regulator.
It was...