Search
Sebi Grants Loan Defaulting Companies a Respite
October 05, 2017
Securities and Exchange Board of India (Sebi) has put on hold a major directive concerning defaulting companies that was scheduled to come into effect from October 2. The move, the action on which was taken just a day before it was to be implemented, required the loan defaulting companies to report their defaults to stock exchanges.
Sebi’s directive was against the backdrop of the banking sector that’s under severe stress because of bad loans that are estimated to be more than Rs. 8 lakh crores.
