SEBI Orders HDFC Bank To Conduct Internal Inquiry

By Archana
Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
For Daily Alerts

    The Securities Exchange Board of India (SEBI), has ordered HDFC Bank to conduct an internal inquiry into the leaking of essential unpublished financial results, as reported by Reuters.

    SEBI Orders HDFC Bank To Conduct Internal Inquiry

    The decision comes in the wake of an investigation that the SEBI started following a Reuters report that stated explicit messages about the HDFC's results and other matters had circulated in the private chatroom's of Whats App application much before the official release from the company.

    Reuters identified many such instances of at least 12 companies reports and HDFC Bank was one of them.

    The lender's financial information "circulated in Whats App closely matched the quarterly financial results of HDFC Bank for June 2017", India's market regulator said on Friday.

    It could not have been possible without the "leakage of information" from a person, or people, privy to the information, SEBI said.

    It also said this pointed to the inadequacy of the processes and systems that HDFC Bank has in place.

    Read more about: sebi hdfc leakage results reports inquiry
    Story first published: Saturday, February 24, 2018, 13:10 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more