PwC India set to offer technology based compliance monitoring services through alliance with Axar Digital Services

New Delhi, 15th March 2024: As part of its services to provide compliance monitoring and advisory services, PwC India has entered into an alliance with Axar Digital Services Private Limited (Axar) to further drive automation in the space of Securities and Exchange Board of India (SEBI) Prohibition of Insider Trading Regulations, 2015 (PIT Regulations).

With this alliance, PwC India’s clients will get access to Axar's licensed tool services while PwC will continue to provide implementation, project management and on-going review support services. This dual approach will help companies remain in compliance with the SEBI PIT regulations in a more operationally efficient way.

Announcing the alliance, Ankur Jain, Partner & Leader – Contracts and Compliance, PwC India said, “At PwC, we support our clients in developing robust compliance framework programmes and policies around Related Party Transactions, Insider Trading regulations, Board and Committee Governance, Board Trainings etc. We welcome the increased vigilance and enforcement of PIT norms as fair trade practices like this are imperative to attract global investments and build trust and protect retail investors. Our alliance with Axar will help strengthen our client service delivery and ensure robust compliance to PIT norms.”

The automated solutions, coupled with PwC India's experience in the space of Corporate Governance, are expected to enable organisations excel in operational efficiency while also complying with the legal requirements. PwC India’s clients will now have access to a one-stop solution for all their compliance needs under the PIT Regulations. This includes regular monitoring of tool submissions and reporting, ensuring that companies have the ongoing support they need to stay compliant.

Speaking more about the partnership, Lokesh Gulati, Partner – Contracts and Compliance, PwC India said, "While we continue to be technology agnostic in PIT compliance space, we chose to partner with Axar leveraging their previous experience in providing a web based framework that ensures adherence to best compliance and trading practices. We will be jointly working on creating market awareness and building tech enabled practices and solutions to help clients in India to enable adherence to PIT norms.”

“Axar Digital Services is committed to simplifying and ensuring SEBI PIT Compliance for listed companies, intermediaries and fiduciaries. By combining our innovative technology and PwC’s deep understanding of the regulatory landscape, we aim to create a new standard of effectiveness and risk reduction in this crucial area. The combination of Axar’s product InsiderLens and PwC’s expert services will surely provide outstanding support to our clients, in meeting SEBI’s mandatory PIT Compliance and related requirements.” added Devdutta B (Sunil) Modak, Managing Director, Axar Digital Services Pvt Ltd. 

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About Axar Digital Services Pvt Ltd

At Axar Digital Services, we are passionate about empowering businesses with innovative digital solutions that enhance efficiency, transparency, and governance. Governance is the key requirement for top management of organizations. Governance means ensuring that the interests of stakeholders are appropriately taken care of. Corporate Law Compliance is our next focus, as a part of our Governance orientation. Axar is about Amplifying Governance and Simplifying Compliance. Find out more by visiting us at

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