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WILFUL DEFAULTERS DIRECTORS
Promoters with fraud loan A/Cs may not get to join other companies as directorsThe move follows concerns raised by banks, citing cases where such promoters continue to hold directorships elsewhere. Existing laws do not...- RBI denies banks extra time to label dodgy borrowers as willful defaultersRBI has shortened the timeframe for classifying wilful defaulters. Banks now have six months to complete the process. This decision aims to...
- RBI directs banks to provide all information to borrower on classifying them as wilful defaulterThe Reserve Bank of India (RBI) has instructed banks to issue show-cause notices to borrowers identified as wilful defaulters. The banks mu...
- Hear out, show proof to borrowers suspected of 'wilful default': Bombay High CourtBombay High Court's ruling alters banks' handling of wilful default cases. Evidence provision mandated, transparency increased. Concerns ra...
- Name and shame: PSBs told to put wilful defaulters’ photos on websitesIn a directive issued to all staterun lenders on Tuesday, the ministry reiterated the guidelines issued by the Reserve Bank of India on pub...
- PSU banks take recovery action against 5,954 wilful defaultersThe country's largest lender SBI has taken action against 1,444 such defaulters with outstanding loan of Rs 20,943 crore.
- Defaulters owe 27% of total amount to SBI alone, PNB nextAs many as 1,762 wilful defaulters owed Rs 25,104 crore to State Bank of India as on March 31, putting pressure on its balance sheet.
- Wilful defaulters owe Rs 92K cr to PSU banksThe outstanding loans by wilful defaulters rose to Rs 92,376 crore at the end of financial year 2016-17, as against Rs 76,685 crore at the ...
- United Breweries board seeks legal view on Sebi’s ‘wilful defaulter’ rulesVijay Mallya, currently chairman of UBL, has also legally challenged the application of the new rules and its implication to his board posi...
- Independent directors facing flak as companies default on paymentsSebi has now restricted such companies and its promoters and directors to access capital markets to raise funds or to take control over lis...
- Sebi bans wilful defaulters from marktes, holding board positionsThe new rules, effective from yesterday, would apply to every individual and company declared as wilful defaulter as per the Reserve Bank n...
- PSU banks register 1,624 FIRs against wilful defaultersWilful defaulters owe PSU banks a total of Rs 64,334.59 crore at the end of first half of the current fiscal.
- 7,035 wilful defaulters owe Rs 59,000 crore to PSU banksAs many as 7,035 wilful defaulters owe about Rs 59,000 crore to state-owned banks and SBI and Central Bank of India account for bulk of suc...
- Finance ministry seeks list of wilful bank loan defaulters by month-end"The (Calcutta High) Court had some questions about whether all directors could be declared wilful defaulters and we have looked at that,"
- United Bank of India identifies United Breweries Holding as wilful defaulter"We have identified UB Holdings as wilful defaulter because it had resources to repay loan as guarantor of Kingfisher Airlines," UBI's Deep...
- Kingfisher seeks basis of wilful defaulter tag from UCO BankNow, the airline has communicated that it wanted to know the basis of why the `wilful defaulter' tag was being attached to the company.
- RBI tweaking wilful defaulter definition to cover directors: Raghuram RajanRajan today said the RBI is in the process of redefining the definition of "wilful defaulters" so as to bring the directors of defaulting c...
- Vijay Mallya defaulter crisis not to impact Mangalore Chemicals and Fertilizers Ltd-Adventz pactReserve Bank of India's regulation states that wilfully defaulting directors should be removed from the board of the companies.
- Kingfisher to challenge United Bank's decisionIn a statement, the Vijay Mallya-owned company said, "KFA and its directors will vigorously challenge the decision of UBI."
- United Bank of India first bank to declare KFA and Vijay Mallya as wilful defaulterThere are several serious repercussions of a company being declared a wilful defaulter, which include restricting any future access to bank...
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