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Here are some steps that could be initiated against wilful defaulters

Defaulters cannot get additional finance from banks

Abhijit Lele 

banks, recapitalisation

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 and companies with as promoters/ directors debarred from accessing capital markets to raise funds

3 Such defaulters cannot get 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 of select banks
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First Published: Wed, February 13 2019. 22:47 IST
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