The Securities and Exchange Board of India (SEBI) has issued an administrative warning letter to the HDFC Bank alleging non-compliance with certain provisions of the SEBI Listing Regulations, in relation to the disclosures made by the Bank with respect to the resignation of Arvind Kapil, being a senior management employee of the Bank..
The administrative warning letter December 10, 2024 was received by the Compliance Officer of the Bank under the SEBI Listing Regulations on December 16, 2024.
Arvind Kapil joined Pune-based non-banking financial company Poonawalla Fincorp as its chief executive after resigning as the group head of mortgage banking business at the bank which includes home loans, loans against property (LAP), and the sales business of the erstwhile Housing Development Finance Corp (HDFC) which was merged with the bank last year
The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
