Axis Capital on Friday said it is exploring legal remedies against markets regulator Sebi’s order restraining the firm from taking up new assignments as a merchant banker for the debt segment.
In a statement, the company clarified that Sebi has not imposed any other restrictions on Axis Capital and it will continue to operate all other business activities in the ordinary course in equity capital markets, infrastructure investment trusts (InvITs), real estate investment trust (REITs), M&A, private equity and institutional equities domain.
On Thursday, the Securities and Exchange Board of India (Sebi), in an interim ruling, prohibited Axis Capital from taking up any new assignments in the capacity of a merchant banker, arranger or underwriter for any issue or offer for sale of securities in the debt segment. This restriction will remain in place until further orders.
“ACL (Axis Capital Ltd) provided guarantee/indemnity towards redemption of NCDs (non-convertible debentures) in the ..
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Axis Capital to explore legal remedies against Sebi’s ban on debt segment biz (20-09-2024)
Axis Capital is exploring legal options against Sebi’s order restricting it from new assignments as a merchant banker for the debt segment. The company clarified that all other business activities will continue as usual, and the debt segment accounted for only 5% of its revenue in FY 2023-24.