Axis Bank Limited has issued a clarification regarding the Securities and Exchange Board of India (SEBI) Confirmatory Order dated November 26, 2024, concerning its wholly-owned subsidiary, Axis Capital Limited (ACL). This follows SEBI’s earlier Interim Order dated September 19, 2024, which restrained ACL from taking on new assignments in the debt segment of merchant banking, arranging, or underwriting securities.
According to the latest Confirmatory Order, SEBI has modified its earlier restrictions. The prohibition on new merchant banking assignments has been narrowed to activities related to the alleged violations cited in the Interim Order. The matter remains under adjudication with SEBI.
Axis Bank has confirmed that it is complying with SEBI’s directives and will provide updates as necessary. This clarification underscores the bank’s commitment to transparency and adherence to regulatory requirements.
