Wilful defaulters won't be allowed to bid for stressed assets: SBI chief

It is a fine line for banks whether they can block any effort by wilful defaulter to bid for his own firm

Banks will block efforts by wilful defaulters to bid for distressed assets in insolvency proceedings, State Bank of India (SBI) Chairman Rajnish Kumar (pictured) said on Monday. Kumar was speaking on the sidelines of a conference on digital banking organised by Ficci and Indian Banks’ Association.

However, it is a fine line for the banks whether they can block any effort by a wilful defaulter to bid for his 

own firm.

“There is no place for wilful defaulters or people who have diverted fund as proved in the forensic audit,” Kumar said at the sidelines of the event, adding even as legally