DCA launches probe into default in interest payments

NEW DELHI: The Department of Company Affairs (DCA) has launched a probe into whether several companies have defaulted on interest payement due from their debenture issues.
The department has asked for information in this regard from Debenture Trustees and held its first meeting on the issue attended by ICICI and SBI, besides Sebi representatives, official sources said.
Besides asking these trustees to submit information on the total number of debenture issues and occurence of default, the department has also decided to devise strategies to check such defaults and ensure regular payment to investors.