Sebi may revive plan for real-time default disclosures | SEBI Registered Company In Indore

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By Shruti Srivastava and Santanu Chakraborty 

India’s finance ministry is in talks with the market regulator about requiring publicly traded companies to promptly report any missed interest or installment payments on borrowings, according to people with knowledge of the matter. 

SEBI Reguistered Company in Indore

The Securities and Exchange Board of India’s earlier effort to tighten rules was deferred days before it was to take effect Oct. 1 after some banks questioned the requirement for disclosure within one working day, saying standard assets can technically default for a short period, according to the people, who asked not to be identified as the discussions are private. Talks between the government and Sebi are ongoing, the people said. 

Policy makers are turning the spotlight on dealings between lenders and troubled corporates as India attempts to resolve about $210 billion in bad loans, an issue that has gained urgency after the scam involving Punjab National BankBSE -1.09 % came to light last week. The new rules would put the onus for reporting defaults in real-time on companies and help to hasten the recognition of stressed assets by banks, the people familiar said. 

In its August circular, Sebi defined default as the non-payment of interest or principal in full on a pre-agreed date. Disclosures would need to be made within one working day from the date of default starting Oct. 1, 2017, the circular had said. 

The rules, if implemented, would help reduce instances of some lenders having more or better information, said one of the people. 

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Live Commodity Tips: Nifty to Face Resistance Stocks Can Give Returns

Live Commodity Tips

It’s a wide opening for today, after controlling bulls for almost all trading session on Tuesday. It shows a clear start to New Year 2018. Market Breath is running positive with a ratio of 5:4 and broader indices closed flat-to-positive outperforming benchmarks.

If it is leading to short-term pressure in the market then there will be need to see follow-through action on the downside. From last few days index have been trading in a narrow range but closer to its all-time high levels.

Hence, breaking below 10400 levels, the index may decline initially towards 10320 and then 10230 levels. Also, INDIA VIX moved up by 5.39 to 13.35 and has been inching up in last one week from low of 11.6 levels.

Further, the rise in volatility is being the cause of concern for bulls. On the upside, Nifty has overhead resistance at 10550 levels. It needs to cross above 10550 levels for it to rally towards 10700 and then 10840 odd levels on the upside.

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