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Rating Agencies to reveal loan defaulters: SEBI

Gaurav Agrawal, New Delhi
06/12/2017   0 Comments

Security and Exchenge Board of India (SEBI) in a substantial dilution of its earlier take that listed companies should make public any loan default within 24 hours of missing the repayment obligation, is now working on a new disclosure framework in which the nus to recognise payment default has been put on rating agencies.

It is to be noted that after receiving concerns from India Inc and Banks, SEBI withdrew the earlier circular on October 2, just a day before it was to come into effect.

As per the sources quoted by Business Standard, SEBI recently met banks, RBI and rating agencies to finalise the disclosure framework. The revised notification is expected to come out after the board meeting scheduled on December 29, Bureaucracy Today reports.

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