Sebi issues notice to Axis Bank about stake buy in Max Life Insurance

Quick Summary:

Capital market regulator Securities and Exchange Board of India has issued a show cause notice (SCN) to Axis Bank and its subsidiaries in a case related to stake buy in Max Life Insurance.

Meanwhile, Max Financial Services Limited, the holding company of Max Life Insurance also said a few directors and a few key managerial personnel of the company (in each case, 'both past and present) have received a SCN through email from Sebi.

Axis Bank, and its subsidiaries, Axis Securities Limited and Axis Capital Limited, have received an SCN through email from the Sebi, it said.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Sebi norms Axis Bank Sebi notice Axis Bank Max Life Insurance

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-26 @ 22:40:25 (2 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 395 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23252599

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