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Sebi plans to revisit directive on loan default disclosure

Markets regulator Sebi is considering to revisit its directive on \'loan default disclosure\', which will make it mandatory for listed companies to inform stock exchanges about such issues as soon as they occur.

Besides, the markets watchdog is expected to apprise its board about its probe into circulation of unpublished price sensitive information about various listed companies through WhatsApp messages and other private social media groups.

These issues would be discussed during the board meeting of the Securities and Exchange Board of India (Sebi) this week, senior officials said.

The board will also consider whether the insider trading norms need to be tweaked to tackle such information leaks, they added.

Sebi has already launched a probe after reports recently indicated that price sensitive information relating to major companies listed in Indian stock exchanges were being circulated in WhatsApp groups, prior to the public announcement of quarterly results.

Circulation of unpublished price sensitive information and trading based on such information in the securities market is prohibited under the Sebi Insider Trading Regulations.

Last week, the regulator had conducted searches at premises of more than 30 market analysts and dealers and seized documents, computers, mobiles and laptops. This is one of the biggest operations since Sebi got the search and seizure powers.


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