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Sebi bars Axis Capital from debt merchant banking activities until further orders
Sebi bars Axis Capital from debt merchant banking activities until further orders
新闻详情:最后更新时间: 2024-09-19 14:10:11
Market regulator Securities and Exchange Board of India (Sebi) has barred Axis Capital Limited (ACL) from taking up debt merchant banking activities. The restriction comes as an interim measure after the regulator found that Axis Capital had provided a guarantee/indemnity towards redemption of NCDs in the guise of underwriting, which it is not permitted to do under the existing regulatory framework. The activity, according to the Sebi order, poses a risk to the financial system as it can potentially disrupt the orderly functioning of the market. The market regulator on Thursday pronounced the order following an inspection of ACL, which was done after a January 16, 2024, news report titled 'Is Axis Capital an Investment Bank or a Hedge Fund?' highlighted certain concerns related to a "high risk transaction undertaken by Axis Capital Limited (ACL)". ACL is a Sebi-registered merchant banker and a wholly owned subsidiary of Axis Bank . Stock Trading Market 101: An Insight into Trendlines and Momentum By - Rohit Srivastava, Founder View Program Stock Trading Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading By - Rohit Srivastava, Founder View Program Stock Trading Market 103: Mastering Trends with RMI and Techno-Funda Insights By - Rohit Srivastava, Founder View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Stock Trading ROC Made Easy: Master Course for ROC Stock Indicator By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading RSI Made Easy: RSI Trading Course By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Technical Analysis for Everyone - Technical Analysis Course By - Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities View Program Stock Trading Introduction to Technical Analysis & Candlestick Theory By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Stock Trading Options Trading Course For Beginners By - Chetan Panchamia, Options Trader View Program Stock Trading Options Scalping Made Easy By - Sivakumar Jayachandran, Ace Scalper View Program Stock Trading Futures Trading Made Easy: Future & Options Trading Course By - Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant View Program Stock Trading Stock Markets Made Easy By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Renko Chart Patterns Made Easy By - Kaushik Akiwatkar, Derivative Trader and Investor View Program Stock Trading Options Trading Made Easy: Options Trading Course By - Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant View Program Stock Trading Stock Investing Made Easy: Beginner's Stock Market Investment Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Macroeconomics Made Easy: Online Certification Course By - Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant View Program Stock Trading Stock Valuation Made Easy By - Rounak Gouti, Investment commentary writer View Program Sebi, in its investigation, examined whether the transactions undertaken by ACL with respect to listed non-convertible debentures (NCDs) of Sojo Infotel were in accordance with the regulatory norms. Sojo issued NCDs of Rs 260 crore on March 25, 2021, and Axis Trustee Services Ltd. was the trustee while ACL was the arranger to the issue. Sojo is a private limited company engaged in the business of high-technology consultancy services in the field of electronics, telecommunications and information technology including software. ACL has the liberty to file its objections within 21 days. (You can now subscribe to our ETMarkets WhatsApp channel )