South Asian Views On Global News - Update 24X7

Listed firms asked to report defaults beyond 30 days



Mumbai, Nov 20 (IANS) Listed companies will have to disclose loan defaults beyond 30 days to the stock exchanges, Securities and Exchange Board of India Chairman Ajay Tyagi said after the SEBI board meeting, here on Wednesday.

According to new provisions, in case of a default in repayment of "principal or interest on loans" from banks or other financial institutions beyond 30 days, it will have to be disclosed within 24 hours.

The SEBI also reduced timeline for "rights issue" to existing shareholders of listed companies.


Replica of Print on your device!

CLICK & Send us 'hi' for Free Subscription

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept

gtag('set', {'user_id': 'USER_ID'}); // Set the user ID using signed-in user_id.