Banks have decided to get tough with wilful defaulters or borrowers who have not repaid bank loans despite having the capacity to do so. Saddled with rising bad debts, banks are pressing for imposition of stricter penalties, including a ban of up to five years on floating of new ventures by the promoters of such firms. Besides promoters, auditors, if found to have wrongly presented facts about borrowing companies, will be held accountable........
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