SEBI To Clear Regulations On Wilful Defaulters

Amid a huge controversy over loan defaults by Vijay Mallya-led UB Group firms, the Securities and Exchange Board of India (Sebi) board is meeting in New Delhi on Saturday (March 12) to choke fund-raising taps for ‘wilful defaulters’. Union Finance Minister Arun Jaitley and Minister of State for Finance Jayant Sinha present amongst others. As for wilful defaulters, Sebi will join RBI and the government in their fight against bad loans as it plans to make it tougher for such entities and their companies to raise funds from the capital markets. This comes at a time when a huge controversy has broken out with flamboyant businessman Mallya leaving the country amid attempts being made by various lenders to recover their dues totalling over Rs 9,000 crore.

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