Sebi plans to impose restrictions on wilful defaulters

NEW DELHI, Nov 17 (PTI): To sternly deal with wilful defaulters, Sebi is looking to impose restrictions on such entities on raising funds from the capital market.
As part of reviewing its existing norms, the watchdog plans to impose restrictions on companies, promoters, and directors that are categorised as a 'wilful defaulter' from accessing the capital market, according to a senior official.
Stricter norms for wilful defaulters would help make sure that their exposure to the capital market is limited.
They could be barred from "taking control in another company" and that kind of mechanism would also ensure that more listed firms are protected from the promoters or management of those entities categorised as wilful defaulters, the official said.