Sebi bars Axis Capital from debt merchant banking activities until further orders

The regulator imposed this restriction as a temporary measure after discovering that Axis Capital had essentially guaranteed the redemption of NCDs under the pretence of underwriting, a practice that is not permitted. The regulator imposed this restriction as a temporary measure after discovering that Axis Capital had essentially guaranteed the redemption of NCDs under the pretence of underwriting, a practice that is not permitted.  Economic Times