NEW DELHI India will restrict so-called wilful defaulters of bank loans from raising fresh funds by issuing securities through capital markets, the Securities and Exchange Board of India (SEBI) said on Saturday.
The restriction is part of efforts to tackle bad loans hampering state-run banks. Under Indian law, wilful defaulters are classified as firms or individuals who deliberately thwart repayment of dues to lenders.
(Reporting by Neha Dasgupta; Editing by Robert Birsel)
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