SEBI's action followed the release of a report written by eminent research analyst Hemindra Kishen Hazari.
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...
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.
Nikhil Inamdar & Archana Shukla
BBC News, Mumbai
“This is unprecedented,” says Hemindra Hazari, an independent business analyst. “Until yesterday it was allegations from the outside, now internal problems have become public. Something is seriously wrong.”
But things could take a turn for the worse if the controversy snowballs further, says Mr...
By Siddhi Nayak
August 28, 2024
...The "legacy" of asset quality issues at the two banks would also feed into the cost of acquisition for the prospective foreign buyers, said independent research analyst Hemindra Hazari.
Chris Kay
By Abir Dasgupta
The issue here is governance and that the bank's board of directors did not have formal oversight despite RBI suggesting to banks to have an IT Strategy Committee in its April 2011 circular, according to Hemindra Hazari, SEBI registered independent analyst.
"When smaller banks and even NBFCs had IT Strategy...
