Axis Capital Evaluates Legal Options Against SEBI Ban on Debt Segment

Axis Capital is exploring legal remedies against SEBI's order preventing it from taking on new assignments in the debt segment. The company clarified that the restriction only applies to the debt segment and not its other business areas. Axis Capital emphasized its commitment to compliance and ongoing business activities.

Axis Capital on Friday announced its consideration of legal action against the Securities and Exchange Board of India (SEBI) following an order that restrains it from new debt segment assignments as a merchant banker.

The company clarified that other business operations remain unaffected, assuring stakeholders that it continues to function normally in equity markets, investment trusts, and other domains.

SEBI's interim ruling prevents Axis from underwriting or arranging new debt securities, citing regulatory breaches. Axis Capital highlighted its minimal involvement in debt for the past year and insisted on its compliance and commitment to legal standards.

(With inputs from agencies.)