Sebi plans for 'difficult to recover' tag for untraceable defaulters

Capital market regulator Sebi is planning to attach a 'difficult to recover' tag for individual defaulters who are found to be 'untraceable' as also for cases facing parallel proceedings by other agencies or in various courts and tribunals.

The proposal, likely to be discussed at Sebi's board meeting next week, is aimed at better utilisation of resources towards cases with higher chances of recovery, a senior official said.

This separate 'difficult to recover' category is for cases where recovery of penalties and other dues from defaulters proves to be virtually impossible and the amount involved is not found to be