MUMBAI: Markets regulator Sebi on Thursday prohibited Axis Capital from functioning as a service provider banker for debt issuances. It additionally barred Axis Capital from performing as “arranger or underwriter for any situation or provide on the market of securities within the debt section, until additional order.”
The Sebi directive said that Axis Capital served because the service provider banker for Sojo Infotel‘s non-convertible debentures providing in 2021.Moreover, it furnished a assure for Sojo’s NCD issuance amounting to Rs 260 crore. Following Sojo’s incapacity to redeem the NCDs absolutely, Axis Capital was obligated to settle the excellent sum of roughly Rs 167 crore.
The regulator’s investigations into the matter and the following order have been based mostly on an article by Hemindra Kishen Hazari, a Sebi-registered analyst, who had printed a chunk on Axis Capital on Jan 26, 2024, the order stated.
Sebi held the view that Axis Capital operated as a banker underneath the guise of a service provider banker.
The Sebi directive said that Axis Capital served because the service provider banker for Sojo Infotel‘s non-convertible debentures providing in 2021.Moreover, it furnished a assure for Sojo’s NCD issuance amounting to Rs 260 crore. Following Sojo’s incapacity to redeem the NCDs absolutely, Axis Capital was obligated to settle the excellent sum of roughly Rs 167 crore.
The regulator’s investigations into the matter and the following order have been based mostly on an article by Hemindra Kishen Hazari, a Sebi-registered analyst, who had printed a chunk on Axis Capital on Jan 26, 2024, the order stated.
Sebi held the view that Axis Capital operated as a banker underneath the guise of a service provider banker.
