The default by IL&FS has “severely” impacted the trust and confidence of investors, said Ajay Tyagi, Chairman of Securities and Exchange Board of India (Sebi). “Trust and consequently investors’ confidence has been severely impacted due to developments in the recent months, particularly as a result of default by a large entity,” he said, without naming the infrastructure financier.
IL&FS’ failure to obey repayment obligations has triggered panic in both debt and equity markets, with investors fretting over cascading effects of the ...
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