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The Economic Times
The Economic Times
Akash Podishetti

Sebi drops proceedings against Max Financial, Axis Bank in Max Life deal case

Axis Bank SEBI Max Life Axis Axis Capital Axis Securities Insurance IRDAI Max Financial Services Max Life Insurance

Markets regulator Sebi has dropped proceedings against Max Financial Services, Max Life Insurance, Axis Bank, Axis Capital, Axis Securities and seven individuals in the matter related to the Max-Axis Life Insurance deal, saying the allegations of disclosure lapses and fraud were not established.

The final order, passed by Whole-Time Member Amarjeet Singh, covered 12 noticees, including Max Financial Services, Max Life Insurance, Axis Bank, Axis Capital, Axis Securities, Analjit Singh, Mohit Talwar, Rahul Khosla, Sujatha Ratnam, Rahul Ahuja, Jatin Khanna and V Krishnan.

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