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India's market regulator and its central bank share concerns over instances of alternate investment funds being used to mask bad loans in the financial system, a top official said on Wednesday.... -December 06, 2023 at 04:46 am EST - MarketScreener
India's market regulator and its central bank share concerns over instances of alternate investment funds (AIFs) being used to mask bad loans in the financial ......
Market regulator Securities and Exchange Board of India (SEBI) has asked six entities, including former promoters of Satyam Computer Services Ltd (Satyam), to disgorge unlawful gains of Rs624 crore with an interest of 12%pa (per annum) for about 15 years, taking the total amount to over Rs1,747 crore.
The total amount that these entities need to pay is about Rs 1,747.5 crore assuming they pay it back by January 2024 when the deadline is set. This includes an interest amount of Rs 1123 crore for about 15 years.
The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.