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Axis Bank-Max Life deal: The long road riddled with regulatory concerns

After over six months and three different structures, the deal could be in its final stages of completion

Axis Bank
Having met all the conditions of regulators for now, Chaudhry would be expecting better results

Amitabh Chaudhry may finally heave a sigh of relief. After over six months, the CEO of the country’s India’s third-largest private bank, Axis Bank, could see closure for his stake purchase in Max Life. The deal, meanwhile, has gone through three rounds of restructuring owing to regulatory concerns. So what started as a purchase of 29 per cent stake has finally come down to 19 per cent.   The first proposal, in April, to buy another 29 per cent stake (Axis Bank already owned one per cent) was red- flagged by the insurance regulator. The Insurance Regulatory and ...