The market regulator’s letter mentions a three-day delay by India’s largest private sector lender in disclosing the resignation of a senior executive.
HDFC Bank on Monday said it received an administrative warning from India’s market regulator alleging non-compliance with some listing regulations, particularly related to the resignation of Arvind Kapil, a senior management employee at the bank.
The Securities and Exchange Board of India has alleged that HDFC violated regulations by delaying disclosing information about Kapil’s resignation by three days. The bank violated more regulations by failing to provide an explanation for this delay.
“The above violation has been viewed seriously. You are, therefore warned to be careful in future and advised to exercise due caution in future and avoid recurrence of …
Sethu writes on all things technology at The Morning Context. He previously worked as a senior sub-editor at Indian Express.
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