SEBI Issues Warning To HDFC Bank Over Delayed Disclosure Of Arvind Kapil’s Resignation

The Securities and Exchange Board of India (SEBI) has issued an administrative warning letter to HDFC Bank Limited, alleging non-compliance with certain provisions of the SEBI Listing Regulations. This relates to the disclosures made by the bank regarding the resignation of Arvind Kapil, a senior management employee of the bank.

The regulator noted a three-day delay in the resignation disclosure, which violated regulations related to changes in senior management. SEBI warned the bank to exercise caution and avoid future non-compliance, emphasising the seriousness of the violation. This follows a second warning letter issued to the bank within a week after concerns about its investment banking activities. According to HDFC Bank, it would take the required actions to resolve the issues and recommendations raised in the letter.