 "Sebi")
The Securities and Exchange Board of India (Sebi) has approached the Prime Minister’s Office (PMO) and the Ministry of Corporate Affairs (MCA) to look into its proposal mandating listed companies to make public disclosures within a day of loan defaults. According to sources, the market regulator is keen on implementing its initial proposal with certain changes.
The new rule was to come into effect in October 2017 but got deferred due to hurdles in its implementation. A revised proposal was discussed on December 28 at Sebi’s board meeting, which decided to hold it further, saying it required more discussion.
Sources
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