Sebi’s action on Axis Capital: Research Analyst’s article tipped off the regulator about “high-risk transaction”

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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 an article by Hemindra Kishen Hazari, titled “Is Axis Capital an Investment Bank or a Hedge Fund” and dated January 16, 2024, that brought the regulator’s attention to the NCD issue.

 

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