According to the WSJ report cited by Reuters, BofA also misled the authorities about the matter. The “show-cause notice” from the markets regulator that the bank's deal team shared price-sensitive information with employees, according to the WSJ report cited by Reuters. These employees were not connected with handling the block deal, SEBI alleged. It then turned over records showing people outside the deal team had communicated with investors about the deal, the report said further. The accusations over the $180 million crore block deal led to a a string of senior resignations and scrutiny in 2024.

Source: Mint January 08, 2026 07:46 UTC