(PTI)
Seeking to join forces with other agencies to check financial frauds, regulator Sebi plans to make it mandatory for listed companies to make urgent disclosure about all major loan defaults.
Concerned over an alleged loan fraud of over Rs 12,000 crore at state-run Punjab National Bank remaining undetected for years, the capital markets watchdog is revisiting its “on-hold” proposal to mandate listed firms to disclose all ‘substantial’ loan defaults within a day. The proposal is expected to be discussed by Sebi’s board at a meeting later this month, even as a final decision is yet to be reached on the threshold limit for quantifying a loan default as ‘substantial’, a senior official said.
