CCI inquires debt trustee units of SBI, Axis, IDBI
By MYBRANDBOOK
India's antitrust body is investigating the trustee units of State Bank of India (SBI), Axis Bank and IDBI Bank for suspected intrigue on fees.
In a confidential order last year, the Competition Commission of India (CCI) stated that the Trustees Association of India, where the trio are founding members, substantially increased the fee for assisting companies raising debt and prevented members from going below a floor price, thereby hurting competition.
The association has launched a court challenge in Mumbai that seeks to repeal the antitrust investigation directive it has termed “illegal” and “capricious.
The antitrust probe and the impending court hearing, details of which have not been previously reported, could have an impact on India‘s nearly $500 billion corporate debt market by altering costs and affecting the way trustees operate.
The SBICAP Trustee Company, Axis Trustee and IDBI Trusteeship are among the leaders in the business in India overseeing hundreds of billions of dollars by rendering trustee services for not just debt securities, but also real estate and other investment funds.
The trustee association has defended itself in the court filings by saying the higher fee was justified as their cost burden had gone up over the years due to enhanced regulatory compliance requirements.
BREAKING NEWS
TECHNO TRENDS
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
SAP launches cloud services to help Indian scaleups innovate m
SAP at SAP unveils now "GROW with SAP for Scaleups," a new cloud service d...
Denodo and Sonata form alliance to unlock data-to-value creati
Denodo and Sonata Information Technology India Limited (SITL) have annou...
Google Play Store will now let users download two apps simulta
Google Play Store now lets users download two apps simultaneously. While a...
E-Magazine
TECHNOTAINMENT
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
Salman Khan trolled for singing with B Praak at Anant Ambani's
To celebrate Mukesh Ambani's youngest son Anant Ambani’s 29th birthday
MOVERS & SHAKERS
DigiCert names Atri Chatterjee as CMO
DigiCert has announced the appointment of Atri Chatterjee as Chief Market
Amagi names its Chief Product Officer
Amagi announced the appointment of Richard Perkett as its Chief Product Of
OPEN YOUR EYES
INTERVIEWS
Fire-Boltt innovates and introduces newer categories to make i
One of the biggest strengths and focus area of Fire-Boltt is innovation. Wi
AMD Pensando innovation CONTINUES
In 2022, AMD announced its acquisition of Pensando Systems, an addition to
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
FRESHWORKS TECHNOLOGIES PVT. LTD.
LENOVO GROUP LTD.
AGGRESSIVE ELECTRONICS MANUFACTURING SERVICES PVT. LTD.
SAMSUNG INDIA ELECTRONICS PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Amitabh Kant
Amitabh Kant is presently the G20 Sherpa of India during its Presidenc...
Technology Icons Of India 2023: Aalok Kumar
Aalok continues to lead the India business and further strengthen Indi...
Technology Icons Of India 2023: Sunil Vachani
Sunil Vachani is the founder and chairman of India-listed Dixon Techno...
PARTNER SPEAKERS
PSU
Aadhaar: Architecting the World's Largest Biometric Identity System
The Unique Identification Authority of India (UIDAI) is a statutory au...
RailTel connecting every corner of India
RailTel is an ICT provider and one of the largest neutral telecom infr...
C-DOT enabling India in indigenous design, development and production of telecom technologies
An autonomous telecom R&D centre of Government of India, Center of Dev...
VIDEOS
Top 25 Brands
Value-Added Distribution
SAVEX TECHNOLOGIES PVT. LTD.
Savex Technologies is the 3rd largest Information & Communication Tec...
B D SOFTWARE
BD Software is the distributor of IT security solutions in India. The ...
EXCLUSIVE NETWORKS SALES INDIA PVT. LTD.
Exclusive Networks is a globally trusted cybersecurity specialist hel...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
