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Let the market decide

Business Standard Editorial Comment |  Jun 27, 2017 10:44 PM IST

Last week, the Securities and Exchange Board of India (Sebi) took some important decisions to facilitate the turnaround of distressed companies with the underlying intention of providing relief to shareholders and lenders. However, although these proposals will help in the resolution of bad loans, they might not go far enough. Some of these steps are in line with the Reserve Bank of India’s guidelines on strategic debt restructuring (SDR). If a bank exercises its rights to take over a defaulting debtor under the SDR scheme, it is exempted.....

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