HDFC Bank gets another warning letter from Sebi, second in a week
HDFC Bank on Monday said that it received an administrative warning from Sebi over non-compliance with certain provisions of the regulator. This is the second warning letter from Sebi the bank has received in nearly a week.
Earlier, Sebi had sent out a warning letter to HDFC Bank over observations made during the course of its periodic inspection of investment banking activities undertaken by the Bank.
This time, the warning letter relates to the resignation of Arvind Kapil, a senior employee at the Bank, where it had disclosed the information to the exchanges with a three-day delay.
Sebi said the Bank has also violated another provision by failing to explain the delay of disclosing the resignation of Kapil.
«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 such instances, failing which appropriate enforcement action may be initiated,» Sebi said.
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