All willful loan defaulters would stand disqualified from board positions at listed companies - SEBI
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Securities and Exchange Board of India (SEBI) Chairman U K Sinha today said that all willful loan defaulters would stand disqualified from board positions at listed companies under new rules
Addressing media in New Delhi, Mr Sinha said, willful loan defaulters barred from fund raising, taking positions at listed firms, from setting up market entities like mutual funds. He said, the targets of the SEBI is to complete probe and pass final orders in all cases within two years, starting this fiscal.
Mr Sinha said Finance Minister has asked to remain alert on supervision of markets keeping in mind impact of global developments.
Addressing media in New Delhi, Mr Sinha said, willful loan defaulters barred from fund raising, taking positions at listed firms, from setting up market entities like mutual funds. He said, the targets of the SEBI is to complete probe and pass final orders in all cases within two years, starting this fiscal.
Mr Sinha said Finance Minister has asked to remain alert on supervision of markets keeping in mind impact of global developments.
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