HDFC bank share continued to decline on the (National Stock Exchange), after market watch dog SEBI (Securities and Exchange Board of India), issue a warning letter to the private lender about violation of ‘Information Disclosure’ regulations.
The shares of HDFC bank went on to touch the day low level of Rs 1,856.35 per share on the NSE (National Stock Exchange), after ringhing the opening bell at Rs 1,833.25 per share on the bourses
HDFC bank’s shares were trading around Rs 1,839.70 per share on the indian bouses with a decline of 1.37 per cent amounting to Rs 25.30 per share on the stock exchanges.
SEBI’s latest warning to HDFC bank
HDFC Bank disclosed in an exchange filing on Monday that it had received an administrative warning letter from SEBI for allegedly failing to comply with the market regulator’s listing requirements in relation to the resignation of Arvind Kapil, the bank’s mortgage business head.
HDFC Bank disclosed in an exchange filing on Monday that it had received an administrative warning letter from SEBI for allegedly failing to comply with the market regulator’s listing requirements in relation to the resignation of Arvind Kapil, the bank’s mortgage business head.
BREAKING: Sebi issues an administrative warning to HDFC Bank for non-compliance with listing regulations!
The bank delayed the resignation notification of senior exec Arvind Kapil by 3 days & failed to explain the delay in disclosure.
⚖️ Sebi has warned HDFC Bank to… pic.twitter.com/JeHfp0Bf1g
— Thoughts Provoking (@thoughtsprovo) December 16, 2024
‘The said warning letter alleges violation of Para 7 of Part A of Annexure I to SEBI circular no. SEBI/HO/CFD- PoD 1/P/CIR/2023/123 dated July 13, 2023 read with clause 7 of Para A of Part A of Schedule III of the SEBI Listing Regulations and Regulation 30 (2) and second proviso to Regulation 30 (6) of SEBI Listing Regulations,’ said SEBI.
SEBI advised bank to take precaution
In order to prevent similar incidents from happening again, the market regulator advised the bank to proceed with appropriate caution going forward. ‘If appropriate enforcement action is not taken,’ it continued.
The warning letter won’t affect operations or finances, according to HDFC Bank. HDFC Bank received an administrative warning letter from SEBI last week for allegedly breaking merchant banking regulations.
First warning to HDFC bank
‘The said warning letter alleges non-compliances with certain provisions of the SEBI (Merchant Bankers) Regulations, 1992, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and SEBI (Prohibition of Insider Trading) Regulations, 2015,’ it said.
