Jet Airways, Icra under Sebi lens for lapses in loan status disclosure

Regulator seeks clarification from airline and Icra over non-disclosure of loan status in a timely manner

The Securities and Exchange Board of India (Sebi) is probing possible violations of disclosure and listing agreement norms at the troubled Jet Airways.According to sources, Sebi is examining the role of credit rating agency Icra and the airline for not making timely disclosure to investors about alleged default risk of loans worth Rs110 billion sanctioned to the company by multiple lenders.

Sources said the regulator would soon seek clarification from Jet Airways for not disclosing the loan status. The regulator is also in touch with stock exchanges to seek further details.

According to Sebi norms, credit rating agencies