




Through the PIL, Subramanian Swamy alleged that Axis Bank made undue profits from share transactions in Max Life Insurance, and had also slammed the IRDAI’s penalty on Max Life as insufficient
Senior counsel for Axis Bank as well as Max Life told a bench headed by Acting Chief Justice Manmohan that the PIL by the former BJP MP was not maintainable as the issue squarely fell in the realm of a commercial transaction between private entities.
BJP leader Subramanian Swamy moved the Delhi High Court, alleging the private bank's involvement in an Rs 5,100-crore scam
Subramanian Swamy has alleged that Axis Bank unlawfully gained by transacting in the shares of Max Life Insurance