New Delhi: Axis Bank Ltd on Monday disclosed that its board has approved a related-party transaction, in compliance with Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In a filing to stock exchanges, the private sector lender said the transaction has been reviewed and cleared by the audit committee and the board, and will be executed at arm’s length and in the ordinary course of business. The bank did not indicate any adverse financial or operational impact arising from the transaction.
The disclosure forms part of Axis Bank’s routine compliance under SEBI’s enhanced corporate governance framework, which requires listed entities to report material related-party transactions to ensure transparency and protect minority shareholder interests.
Axis Bank said all applicable approvals have been obtained, and the transaction adheres to regulatory norms and internal policies laid down by the bank. Further details, if required, will be disclosed in accordance with statutory timelines.
Shares of Axis Bank ended marginally changed in intraday trade following the disclosure.