HDFC Bank has received a second administrative warning from the Securities and Exchange Board of India (SEBI) within nearly a week, due to a three-day delay in disclosing the resignation of its mortgage business head Arvind Kapil in March this year. The private lender said that it will take appropriate measures to address the concerns raised by the capital market regulator.
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“Please note that the Securities and Exchange Board of India has issued an administrative warning letter to the Bank thereby 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,” HDFC Bank said in a regulatory filing.
This issue has no financial or operational impact on its activities, added the bank. On Thursday, HDFC Bank had said that it had received an administrative warning letter from SEBI for non-compliance with some provisions related to its investment banking operations.
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