Decision on loan default disclosure norms still with board: Sebi chief

Sebi chief Ajay Tyagi today said the decision on proposed norms necessitating listed companies to make urgent disclosures about all major loan defaults lies with the regulator's board.

The new rules were to come into effect initially from October 1 last year but were deferred after banks had asked for more time as the domestic credit market was different from its Western counterparts where such disclosures are mandatory.

In December last year, Sebi had stated it would hold further discussions on the said proposal, which was expected to be discussed at the regulator's board meeting today.

"The matter is with the board and the board will take a view," Tyagi told reporters after the board meeting