BJP leader Subramanian Swamy sought direction to form a committee of experts to investigate alleged fraudulent acts of M/s Max Life Insurance Co. Ltd and M/s Max Financial Services Ltd in allowing their shareholder/Axis Bank Ltd and its group companies “to make undue profits/gains…”
Subramanian Swamy, a BJP leader, urged the Delhi High Court to initiate an investigation into alleged fraud committed by Axis Bank regarding the sale and purchase of shares in Max Life Insurance. Swamy s petition alleges that Axis Bank profited Rs 4,000 crore through non-transparent means, violating regulations.
Axis Bank said on Thursday that it has obtained all necessary regulatory approvals in connection with the purchase of shares of Max Life Insurance with regard to the public interest writ petition filed by BJP leader Subramanian Swamy.A public .