Penalty on Axis Bank Ltd by CCI for an amount of ₹ 40 Lakh

Penalty imposed as bank has failed to informed the regulator over its stake acquisition in CSC e-Governance.

Transaction for aquisition of stake in CSC e-Governance is executed in November 2020.

Bank aquired 57743 shares for ₹6300 each. 9.91% Stake acuired at a total value of ₹36.38 Crore

Axis bank was required to informed CCI, about its acquisition of stake in CSC e-Governance, which it failed to do so

On Friday Bank share price was closed at 942.50 up by .64% in NSE.