Axis Bank Limited

55 matters before the Securities Appellate Tribunal

Penalties and directions recorded

List all matters on 27 June 2022
Matters adjourned and listed for further hearing on 8 July 2022
Matters adjourned on SEBI’s request.
Parties directed to obtain instructions from the Registrar 48 hours before the listed date regarding video or physical hearing
WTM orders dated 13.12.2019 and 14.01.2020 rejected banks' representations to invoke pledge

SAT-appeal

SAT matter SATV-0012A5DFF9B213F51D5D395E
Karvy Stock Broking Limited granted one last opportunity to file a reply in HDFC Bank Ltd.'s appeal within two weeks from 18 October 2021 · Rejoinder, if any, to be filed within one week thereafter
Appeal: Appeal Nos. 35, 50, 112 and 70 of 2020, and Appeal No. 75 of 2020 were pending; listed for final disposal on 22 November 2021.
SAT matter SATV-028A537DF962AB900F40E3AB
Karvy Stock Broking Limited granted one last opportunity to file a reply in HDFC Bank Ltd.'s appeal within two weeks from 18 October 2021 · Rejoinder, if any, may be filed within one week thereafter
Appeal: Appeal Nos. 35, 50, 112, 70 and 75 of 2020 were pending; listed for final disposal on 22 November 2021
SAT matter SATV-02DFB7B22D2FB40DB2C9314B
List all matters on 27 June 2022 · Parties to act on the digitally signed copy of the order
Appeal: Appeal Nos. 35, 50, 112, 70 and 75 of 2020 were listed; no disposal on merits recorded in this order dated 27 April 2022.
SAT matter SATV-08A3C3526A1EB56AEB1CFDFD
Matter adjourned for arguments of the respondents on 02 August 2022
Appeal: Appeal No. 35 of 2020 was pending; appellants were heard and the matter was listed for respondent arguments on 02 August 2022.
SAT matter SATV-11ED8DDE63820667BAE648EF
List the appeals for final disposal on 6 September 2021. · Extend any existing interim order until the next date.
Appeal: Appeal Nos. 35, 50, 112, 70 and 75 of 2020 were pending; listed for final disposal on 6 September 2021.
SAT matter SATV-0C90B8F1F5DA0583FB9C792E
List the matter on 16 June 2021 · Continue interim relief, if any, until the next hearing date
Appeal: Appeal No. 35 of 2020 was pending; adjourned to 16 June 2021 with interim relief continued
SAT matter SATV-16D346211EB73D8E39212E3B
Matters adjourned and listed for further hearing on 8 July 2022 · Parties directed to act on the digitally signed copy of the order
Appeal: Appeal Nos. 35, 50, 70, 75 and 112 of 2020 were pending; the order dated 6 July 2022 adjourned the matters for further hearing on 8 July 2022
SAT matter SATV-2191623886286A9B70D5E7D4
Matters adjourned on SEBI’s request. · List the appeals on 27 April 2022.
Appeal: Appeal Nos. 35, 50, 112, 70 and 75 of 2020 were adjourned on 25 March 2022; listed for 27 April 2022.
SAT matter SATV-215727D6EE808705E2E013CB
Karvy Stock Broking Limited granted one last opportunity to file a reply in HDFC Bank Ltd.'s appeal. · Rejoinder, if any, may be filed thereafter.
Appeal: Appeal Nos. 35, 50, 112, 70 and 75 of 2020, with Misc. Application No. 113 of 2020; order dated 18 October 2021 granted time for reply and continued interim relief, with final disposal listed for 22 November 2021.
SAT matter SATV-1D155637C075DE1B11BF0B20
Appeal listed for 5 May 2021 · Parties directed to obtain instructions from the Registrar 48 hours before the listed date regarding video or physical hearing
Appeal: Appeal No. 35 of 2020; order dated 15 April 2021; appeal adjourned and listed for 5 May 2021
SAT matter SATV-24E53081B373913C8B3F34AF
In paragraph 6 of the order dated 27 February 2015, replace the words “show cause notice” with “notice”. · Praecipe disposed of.
Appeal: Appeal Nos. 92 and 93 of 2015 were considered by SAT on 10 March 2015; praecipe disposed of and wording in paragraph 6 of the 27 February 2015 order corrected.
SAT matter SATV-282A38AA205C8726D84969D6
Last opportunity to Karvy Stock Broking Ltd to file reply in HDFC Bank appeal within two weeks · Rejoinder, if any, may be filed within a week thereafter
Appeal: Appeal Nos. 35, 50, 70, 75, 112 of 2020 with Misc. Application 113 of 2020 pending before SAT; interim relief extended; listed for final disposal on 22 November 2021
SAT matter SATV-3347188845D338F53BC4EFA8
Matter listed next on September 26, 2025 · Interim order, if any, to continue till next date of hearing
Appeal: Appeal No. 62 of 2025 pending before SAT Mumbai; adjourned to September 26, 2025 with interim order continued
Unilateral transfer of shares pledged to banks to Karvy clients by SEBI/NSDL without pledgee consent, in violation of Depositories Act and DP Regulations.
Clarified four weeks from 20 December 2023 applies to Axis Bank and SEBI/NSE/NSDL to implement directions · Misc. Application No. 1681 of 2023 in Appeal No. 35 of 2020 disposed off with no order as to costs
Appeal: SEBI and NSDL have filed Civil Appeal before Hon'ble Supreme Court against SAT order dated 20 December 2023 - pending
Karvy prima facie misused client securities by pledging them for own fund-raising, not reporting DP account and bank accounts, diverting proceeds to own accounts.
WTM ex-parte order dated 22.11.2019 prohibited Karvy from taking new broking clients · Depositories directed not to act on Karvy PoA instructions with immediate effect
Appeal: SAT Appeal Nos.35, 50, 70, 75 and 112 of 2020 with Misc.Application 113 of 2020, reserved 22.02.2023, decided 20.12.2023
SAT matter SATV-7C54E65BE12E5BD89B1CFD91
Put up matters for further hearing on July 8, 2022 after hearing counsel for Axis Bank Limited
Appeal: Appeal Nos. 35, 50, 70, 75 and 112 of 2020 pending with Misc. Application No. 113 of 2020; adjourned to 08.07.2022 for further hearing
SAT matter SATV-78767EF536CB1355FC285978
Heard counsel for Axis Bank; put up all matters for further hearing on July 8, 2022
Appeal: Appeal Nos. 35, 50, 70, 75 and 112 of 2020 pending; heard in part on 06.07.2022, adjourned to 08.07.2022
SAT matter SATV-7C5BEAD14F93051B6F556B97
List appeal on July 28, 2021 · Interim relief, if any, continued till next date of hearing
Appeal: Appeal No. 35 of 2020 pending; listed for July 28, 2021 with interim relief continued
SAT matter SATV-88BA6425039618CB58EAED71
Matter adjourned to September 07, 2021 for continuation of respondents arguments · NSE directed to file bye-laws during the course of the day on 06.09.2021
Appeal: Appeal No. 140 of 2021 pending; next hearing on September 07, 2021
SAT matter SATV-92DD5FFA30B9B3D7349A26A8
Matters listed on June 27, 2022 · Parties to act on digitally signed copy signed by Private Secretary on behalf of bench
Appeal: Appeal Nos. 35, 50, 70, 75, 112 of 2020 and Misc. Application No. 113 of 2020 pending; adjourned to 27.06.2022 vide order dated 27.04.2022
SAT matter SATV-9F938AF251B4EB67B44E6F66
Adjourned on request of respondent; matter listed for further hearing on July 26, 2022 · Parties to act on digitally signed copy; certified copy available from Registry on payment
Appeal: Appeal No. 35 of 2020 pending before SAT; adjourned, next hearing July 26, 2022
SAT matter SATV-95E1A68A2E17F637A3EDB8FB
Respondent arguments completed, rejoinder arguments commenced · Matter posted for further hearing on 28 September 2022 at 12.30 p.m.
Appeal: Appeal Nos. 35, 50, 70, 75, 112 of 2020 with Misc. Application No. 113 of 2020 pending; respondent arguments completed, rejoinder started; adjourned to 28.09.2022
SAT matter SATV-9742D509CC5EBACA0FB3B266
Adjourned on request of respondent SEBI · List matters on April 27, 2022
Appeal: Appeal Nos. 35, 50, 70, 75, 112 of 2020 and Misc. Application No. 113 of 2020 pending; adjourned on 25.03.2022 to 27.04.2022; no disposal
SAT matter SATV-448D8CAEF3CF928845D27398
Parties to appear before NSE physically or by video conference on 24 June 2020. · NSE to provide meeting contact details and arrangements at least one day in advance.
Appeal: Appeal (L) No. 175 of 2020; interim directions issued on 19 June 2020, with further hearing fixed for 3 July 2020.
SAT matter SATV-91FCDE4D1FE6930480E042D2
List these appeals for final disposal on September 06, 2021 · Interim order, if any, extended till the next date
Appeal: Appeal Nos. 35, 50, 112, 70, 75 of 2020 and Misc. Application No. 113 of 2020 pending; adjourned to 06 September 2021 with interim extended
SAT matter SATV-ADC5D0B22A8F43226F4DA1EC
Order reserved after hearing learned senior counsel for parties · Parties to act on digitally signed copy sent by fax and/or email
Appeal: Appeal No. 140 of 2021 heard on 07.09.2021; order reserved
SAT matter SATV-B47FC8ED2EAA0E39C9FC5EB0
Adjourned on request of respondent SEBI · List matters on April 27, 2022
Appeal: Appeal Nos. 35 of 2020, 50 of 2020, 112 of 2020, 70 of 2020, 75 of 2020 with Misc. Application No. 113 of 2020 pending; adjourned to 27 April 2022
SAT matter SATV-A59F44B5C16DEA3B91C03400
List Appeal Nos. 35, 50, 112, 70, 75 of 2020 on June 27, 2022 · Parties to act on digitally signed copy; certified copy available from Registry on payment
Appeal: Appeal Nos. 35, 50, 70, 75, 112 of 2020 and Misc. Application No. 113 of 2020 heard on 27.04.2022; adjourned to 27.06.2022; pending, not disposed
SAT matter SATV-AEDEDDA56EAE08D611AF6110
Matter adjourned and listed for further hearing on September 27, 2022 · Parties directed to act on digitally signed copy of order
Appeal: Appeal No. 35 of 2020 pending - adjourned to 27 September 2022 for further hearing
SAT matter SATV-CBC69781E51372410990861A
List Appeal Nos. 35, 50, 112, 70 and 75 of 2020 for final disposal on September 06, 2021 · Interim order, if any, extended till the next date
Appeal: Appeal Nos. 35, 50, 112, 70 and 75 of 2020 pending before SAT; listed for final disposal on September 06, 2021 with interim extended
SAT matter SATV-5B4902D9C9807E4930195145
Karvy Stock Broking Limited granted one final opportunity to file a reply in the HDFC Bank appeal within two weeks. · Rejoinder, if any, may be filed within one week thereafter.
Appeal: Order dated 18 October 2021 in Appeal Nos. 35, 50, 112, 70 and 75 of 2020; final disposal listed for 22 November 2021
SAT matter SATV-EE247030835BD298AB5CA9CD
Adjourned on the request of respondent SEBI · List on April 27, 2022
Appeal: Appeal Nos. 35, 50, 70, 75, 112 of 2020 and Misc. Application No. 113 of 2020 pending before SAT; adjourned to 27 April 2022 vide order dated 25.03.2022
SAT matter SATV-E2E1D060869789B1B23B21B5
List / next hearing on June 27, 2022 · Parties to act on digitally signed copy by Private Secretary; certified copy from Registry on payment
Appeal: Appeal Nos. 35, 50, 70, 75, 112 of 2020 and Misc. Application No. 113 of 2020 pending; adjourned to June 27, 2022 by order dated 27.04.2022
Karvy misused clients' securities by pledging through undisclosed DP account and diverting funds to own accounts; WTM held banks' pledge invalid as of fully/partly paid clients without explicit authorization.
KSBL prohibited from taking new clients for stock broking activities · Depositories not to act on KSBL instructions under clients' PoA with immediate effect
Appeal: Appeal Lodging No.597 of 2019 by Axis Bank against NSDL 23 Nov 2019 communication disposed by SAT on 17 Dec 2019 directing representation to SEBI
SAT matter SATV-E616BED0876A7072FFD498FB
Order reserved on respondent's objection regarding composition of Tribunal · Parties directed to act on digitally signed copy sent by fax and/or email
SAT matter SATV-F1A91F32D5F0F2281E09572E
Respondent arguments completed; arguments in rejoinder started · Listed on September 28, 2022 at 12.30 p.m. for further hearing
Appeal: Appeal Nos. 35, 50, 70, 75, 112 of 2020 with Misc. Application No. 113 of 2020 pending before SAT; respondent arguments completed, rejoinder part-heard, adjourned to 28.09.2022 - not disposed
SAT matter SATV-7769EC107FC54898E9F5F035
Matters were listed for further hearing on 8 July 2022. · Parties were directed to act on the digitally signed copy of the order.
Appeal: Appeal Nos. 35, 50, 70, 75 and 112 of 2020 were pending and listed for further hearing on 8 July 2022; no disposal was recorded.
Karvy misused clients securities by pledging them for own loans, not reporting DP Account No.11458979 and six bank accounts; banks pledge claimed invalid as of fully/ partly paid clients without explicit authorization.
KSBL prohibited from taking new clients for stock broking activities · NSDL and CDSL directed not to act on PoA instructions given by KSBL with immediate effect
Appeal: Appeal Lodging No.597 of 2019 disposed by SAT order dated 17 December 2019; present Appeals Nos.35,50,70,75,112 of 2020 decided on 20 December 2023
Modex prima-facie misusing clients' securities; Axis Bank as PCM holding ~Rs.98.15 cr securities against Rs.21.61 cr PCM dues and resisting NSE directions to release excess client securities
Appeal: Appeal No.277 of 2020 with Misc. 287 of 2020 stay and Misc. 307 of 2020 intervener challenging NSE communications dated 06.07.2020, 07.08.2020, 12.08.2020, 19.08.2020; reserved 26.10.2020, decided 11.11.2020
SAT matter SATV-683655226FAA3E78F0D63114
List appeal on July 29, 2022
Appeal: Appeal No. 35 of 2020 pending; listed on July 29, 2022 vide order dated 26.07.2022
SAT matter SATV-6BF16A310E367107CEF3F246
List Appeals No. 35, 50, 112, 70, 75 of 2020 for final disposal · Interim order, if any, extended till next date
Appeal: Appeal Nos. 35, 50, 112, 70, 75 of 2020 with Misc. Application No. 113 of 2020 pending; listed for final disposal on 06 September 2021, interim extended
Challenge by PCM to NSE orders dated May 28 and June 8, 2020 directing release of securities held as security for trading member Modex International Securities Ltd.
Misc. Application No.220 of 2020 rejected summarily as misconceived · Held SAT order dated July 3, 2020 clear, needs no clarification/modification
Appeal: Misc. Application No.220 of 2020 in Appeal No.146 of 2020 decided 17.08.2020 - misc application rejected; original appeal already disposed 03.07.2020
SAT matter SATV-78D5867459518F23EDC64BF8
Respondent counsel arguments continuing; matter put up for further hearing on August 23, 2022 · All parties to act on digitally signed copy; certified copy available from Registry on payment
Appeal: Appeal Nos. 35, 50, 70, 75 and 112 of 2020 pending before SAT; arguments continuing, no disposal on 02.08.2022
Karvy misused clients' securities by pledging fully/ partly paid clients' shares for own loans; pledge by banks claimed invalid without explicit client authorization.
KSBL prohibited from taking new clients for stock broking activities · Depositories not to act on any PoA instructions given by KSBL with immediate effect
SAT matter SATV-88504B9CEB309D1466C3C684
Adjourned on request of respondent SEBI · List matters on April 27, 2022
Appeal: Appeal Nos. 35, 50, 70, 75, 112 of 2020 and Misc. Application No. 113 of 2020 pending; adjourned to April 27, 2022 vide order dated 25.03.2022, no disposal on merits
SAT matter SATV-BAFE9B301986D10C10A588D8
Respondent arguments completed and rejoinder arguments started · Listed for further hearing on September 28, 2022 at 12.30 p.m.
Appeal: Appeal Nos. 35, 50, 112, 70, 75 of 2020 pending; respondent arguments completed, rejoinder started, posted to 28.09.2022
SAT matter SATV-C81F939BC0E1F4A65C735377
Adjourned on request of learned counsel for respondent · List matter on March 25, 2022
Appeal: Appeal No. 35 of 2020 pending before SAT; adjourned on 16.02.2022 to March 25, 2022
SAT matter SATV-C556E73D69FD7CD0F1F4D17B
Heard senior counsel for Axis Bank Limited and put up all matters for further hearing on July 8, 2022
Appeal: Appeal Nos. 35, 50, 70, 75 and 112 of 2020 pending before SAT; part-heard on 06.07.2022 and adjourned to 08.07.2022; Misc. Application No. 113 of 2020 also listed
SAT matter SATV-C9CBD3F1B7AC9C06EFDB44A1
Heard in part; matter put up for final hearing on 01 August 2022 · Parties to act on digitally signed copy; certified copy available on payment of charges
Appeal: Appeal No. 35 of 2020 pending; heard in part on 29.07.2022, next final hearing on 01.08.2022
SAT matter SATV-DCAAD859C3BE385B8CD55504
List Appeal Nos. 35, 50, 112, 70, 75 of 2020 for final disposal on September 06, 2021 · Extend interim order, if any, till next date
Appeal: Appeal Nos. 35, 50, 112, 70, 75 of 2020 with Misc. Application No. 113 of 2020 heard on 28.07.2021, adjourned for final disposal on 06.09.2021 with interim extended
Respondent No.3 alleged to have misused clients' securities, leading to SEBI restrictions and NSE freeze of bank accounts.
Misc. Application No.179 of 2021 for interim release of FDs disposed of with no relief granted · Appeal No.140 of 2021 to come up on August 2, 2021 for final disposal
Appeal: Misc. Application No.179 of 2021 in Appeal No.140 of 2021 disposed of on 08.06.2021; Appeal No.140 of 2021 pending for final disposal on 02.08.2021
SAT matter SATV-FFE085EBFE4094AAF716BE30
Respondent arguments completed, rejoinder started; put up for further hearing on September 28, 2022 at 12.30 p.m. · Parties to act on digitally signed copy; certified copy available from Registry on payment
Appeal: Appeal Nos. 35, 50, 70, 75, 112 of 2020 and Misc. Application No. 113 of 2020 pending; respondent arguments completed, rejoinder started; next hearing 28.09.2022

Other

SAT matter SATV-9A699CFEF0A1326CFC47C0B4
List matters on June 27, 2022 · Parties to act on digitally signed copy; certified copy available from Registry on payment of usual charges
SAT matter SATV-CC06AA116A7A8F3702C05C15
Respondent arguments completed and rejoinder arguments started · Matter listed for further hearing on 28 September 2022 at 12.30 p.m.
Appeal: Appeal Nos. 35, 50, 70, 75, 112 of 2020 with Misc. Application No. 113 of 2020 heard on 27.09.2022; not disposed, adjourned to 28.09.2022 for further hearing
SAT matter SATV-90D710BF340EC82A02D48F28
Heard learned counsel for parties, order reserved · Parties directed to act on digitally signed copy signed by Private Secretary on behalf of bench
Appeal: Appeal Nos. 35, 50, 112, 70, 75 of 2020 and Misc. Application No. 113 of 2020 heard on 22.02.2023; order reserved, not disposed

Analyse these matters in Ontology · Plans

Source: SecMarx — Axis Bank Limited. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (charges, outcomes, appeal chain) is cited to us.