Sebi's circular naming defaulters draws flak; companies approach FinMin

The list featured some prominent names like SBI Capital, Axis Capital, GMR Holdings, United Breweries, Alpic Finance, Saradha Realty, United Bank of India &Trident India

Market regulator Securities and Exchange Board of India (Sebi) is once again caught on the wrong foot, and this time for one of its recent circulars that made public names of over 2,000 entities, which have defaulted on its dues. 

Some of the companies named in the list have raised objections with the finance ministry, stating that the list was erroneous, said sources aware of the development.   
 

The regulator had pulled out the circular dated 2 April within hours without any explanation. But, the uncertainty and confusion among market players, triggered by the list, lingered. 

The list featured some