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Steps that could be initiated against wilful defaulters
1 Public sector banks, which face maximum stress from wilful defaulters, have filed 9,594 suits for recoveries and 2,881 First Information Reports
2 Wilful defaulters and companies with wilful defaulters as promoters/ directors debarred from accessing capital markets to raise funds
3 Such defaulters cannot get additional finance from banks
4 They are prohibited from participating in the insolvency resolution process
5 The Fugitive Economic Offenders' Act, 2018, empowers authorities to attach property of a fugitive economic offender
Dues from wilful defaulters of select banks
1 Public sector banks, which face maximum stress from wilful defaulters, have filed 9,594 suits for recoveries and 2,881 First Information Reports
2 Wilful defaulters and companies with wilful defaulters as promoters/ directors debarred from accessing capital markets to raise funds
3 Such defaulters cannot get additional finance from banks
4 They are prohibited from participating in the insolvency resolution process
5 The Fugitive Economic Offenders' Act, 2018, empowers authorities to attach property of a fugitive economic offender
Dues from wilful defaulters of select banks
