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“The move to allow promoters to hold 26% of the paid-up voting equity share capital of the bank seems to be a way of turning the exception allowed to Kotak Mahindra Bank into a policy decision, uniform to all banks,” said independent banking analyst Hemindra Hazari. “In my view, this would undermine the credibility of RBI as it has allowed independent private banks to arm-twist the regulatory body."
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Axis Capital Reports Shares of Illiquid Unlisted Firm as ‘Held for Trading’
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...
SEBI bars Axis Capital as banker for new debt issues
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.
Explained: What prompted SEBI to flag Axis Capital’s underwriting activity & guarantee
SEBI's action followed the release of a report written by eminent research analyst Hemindra Kishen Hazari.
Sebi’s action on Axis Capital: Research Analyst’s article tipped off the regulator about “high-risk...
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...