SEBI said it began the adjudication process against the company over alleged violation of its merchant banking norms in March, 2009. The issue relates to the company’s alleged failure to seek prior approval from the regulator on two occasions for an indirect change of control.
ABN Amro Bank in India became part of the Royal Bank of Scotland (RBS) Group in 2008 following the RBS-led acquisition of the Dutch bank.
Published 17 May 2011, 15:02 IST