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CCI probes debt trustee units of SBI, Axis, IDBI on suspected fee cartel

Indian regulations mandate that companies raising debt appoint a so-called 'debenture trustee' to protect the interests of investors.

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3 min read Last Updated : Apr 07 2022 | 2:14 AM IST

India's antitrust body is investigating the trustee units of State Bank of India, Axis Bank and IDBI Bank for suspected collusion on fees, triggering a lawsuit by a group representing them, documents seen by Reuters showed.

Indian regulations mandate that companies raising debt appoint a so-called "debenture trustee" to protect the interests of investors. The trustees charge a fee from the companies issuing the debt and make independent due-diligence checks on them.

The three under investigation - SBICAP Trustee Company, Axis Trustee and IDBI Trusteeship - are among the leaders in the business in India overseeing hundreds of billions of

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Topics : Competition Commission of India sbi Axis Bank IDBI Bank Investors

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