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Mar 24, 2015
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Sebi gives lenders new ammunition to tackle bad loans
Capital markets regulator Securities and Exchange Board of India (Sebi) has joined the fight against a rise in bad loans and non-cooperative borrowers.Its board of directors on Sunday decided to relax the norms governing conversion of debt into equity, giving lenders more room to tackle bad loans, say experts. The board agreed to ease the formula for arriving at a conversion price and in regard to the Takeover Code.According to sources, the stock market regulator is also finalising guidelines to restrict “wilful defaulters” from the securities market. It is likely to bar the latter from making a public issue of equity or debt.
Source -
http://www.business-standard.com
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