Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs2 lakh on DS Kulkarni Developers Pvt Ltd for the company s failure to create a debenture redemption reserve (DRR) to protect non-convertible debenture (NCD) holders.
Given the large loan book of SBI, the NPA sale numbers are minuscule, but often charges of non-transparency crop up in such sales, with defaulting promoters going against the bank officials.