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)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Published Date: Mar 12, 2016 03:45 pm | Updated Date: Mar 12, 2016 03:45 pm