![[Rs 5,100 Crore Scam in Axis Bank-Max Life Deal] Delhi High Court Urges RBI and SEBI to Conclude Probe "without delay"](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/08/image-63-2.png?resize=447%2C367&ssl=1)
The Delhi High Court dismissed Subramanian Swamy’s PIL alleging a Rs 5,100 crore scam in the Axis Bank-Max Life deal, directing SEBI and RBI to conclude their investigation promptly. Swamy accused Axis Bank of illegal gains through Max Life shares transactions and emphasized the need to prevent similar incidents. The Court noted broader concerns about corruption in the banking and insurance sectors.
Dr. Subramanian Swamy has approached the Delhi High Court, alleging Rs 5,100 crore financial irregularity in the Axis Bank-Max Life deal. The case highlights breach of IRDAI directives and disparity in enforcement actions. The petition raises concerns about financial regulations and investor interests in India. The hearing has been postponed to March 13.
