Sebi issues administrative warning letter to HDFC Bank over non-compliance

India's market regulator, the Securities and Exchange Board of India (Sebi), has issued an administrative warning letter to HDFC Bank, the country's largest private-sector bank, for non-compliance with listing regulations. The bank was found to have delayed the notification of the resignation of Arvind Kapil, a senior management member, by three days.

 

Additionally, the bank failed to provide an explanation for the delay in the disclosure on April 30, 2024.

 

In a letter to the bank, Sebi said the violations by the bank have been viewed seriously, and the bank has been warned to be careful in future. It has also been advised to exercise caution to avoid the recurrence of such instances, failing which appropriate enforcement action could be initiated, Sebi said in its letter.

 

The bank has said it will take necessary steps to address the regulator's concerns.    CDSL shareholders give nod for Vora reappointment  Shareholders of Central Depository Services India (CDSL) approved the resolution pertaining to reappointment of Nehal Vora as the MD & CEO. A disclosure made by the country’s only listed depository showed the ordinary resolution received 99.52 per cent votes in ‘favour’. Vora’s second five-year term ends on September 17, 2029. His appointment follows regulatory nod from Sebi in a letter dated August 29. Shares of CDSL, which oversees more than 143 million demat accounts, last closed at Rs 1,953, up 0.5 per cent, valuing the company at Rs 40,818 crore.