Delhi High Court Declines to Act as 'Super Regulator' in Axis Bank Case

The Delhi High Court has refused to intervene in an alleged fraud case involving Axis Bank and the sale of Max Life Insurance shares. The court emphasized the role of sector regulators SEBI and RBI in handling such commercial transactions and directed them to expedite their investigations.

The Delhi High Court has declined to intervene in allegations of fraud against Axis Bank involving the sale of Max Life Insurance shares, emphasizing it should not act as a 'super regulator.'

Acting Chief Justice Manmohan pointed out that commercial transactions should be handled by the appropriate sector regulators, in this case, SEBI and RBI, which are already investigating the matter.

The court's decision, influenced by a PIL from BJP leader Subramanian Swamy, stressed the need to allow regulators to complete their investigations without judicial interference, ensuring any required actions are taken as swiftly as possible.

(With inputs from agencies.)