Loan default: Listed companies get breather from Sebi

In July, the regulator had asked listed banks to make disclosures if provisioning and NPAs assessed by the RBI exceeded 15 per cent of published financials

The Securities and Exchange Board of India (Sebi) has put off implementation of its directive “until further notice” that required listed firms to inform exchanges if they default on loan payments to banks and financial institutions, a circular of the markets regulator has said.
 
Last month, the regulator had directed listed companies to disclose from October 1 any payment defaults to banks and financial institutions within one working day of such a miss.
 
The move came against the backdrop of the government and the Reserve Bank of India (RBI) stepping up efforts to tackle the menace of bad