Cyril Amarchand Mangaldas acted as legal counsel to Axis Bank Limited and its two wholly owned subsidiaries, Axis Capital Limited and Axis Securities Limited, with respect to proceedings under Section 11B of the SEBI Act, 1992.
SEBI passed an order on August 24, 2026, finding that the allegations against Axis Bank Limited and its wholly owned subsidiaries were not established. Accordingly, the proceedings were disposed of without any adverse findings or directions, or imposition of any penalty.
The matter was led by Indranil Deshmukh, Partner (Head – Disputes); and Vasudha Goenka, Partner, under the guidance of L. Viswanathan, Senior Partner, along with the Axis Bank team.
