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Here are some steps that could be initiated against wilful defaulters

Abhijit Lele/ 13 Feb 19 | 10:47 PM

Steps that could be initiated against wilful defaulters

1  Public sector banks, which face maximum stress from wilful defaulters, have filed 9,594 suits for recoveries and 2,881 First Information Reports

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2  Wilful defaulters and companies with wilful defaulters as promoters/ directors debarred from accessing capital markets to raise funds

3  Such defaulters cannot get additional finance from banks

4  They are prohibited from participating in the insolvency resolution process

5  The Fugitive Economic Offenders' Act, 2018, empowers authorities to attach property of a fugitive economic offender

Dues from wilful defaulters of select banks

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