The Securities and Exchange Board of India issued an administrative warning to ICICI Securities Ltd. on its merchant banking operations.
"The warning has been issued in connection with the inspection of books and records for the merchant banking activities of the company," ICICI Securities said in an exchange filing on Thursday.
The market regulator has also initiated other quasi-judicial proceedings in connection with this, it said.
There will be no impact on financial, operational, or other activities, ICICI Securities said.
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