India’s publicly listed firms must disclose any failure to repay loans within 24 hours in cases where 30 days have passed since the default, its securities regulator said on Wednesday, tightening rules at a time when bond defaults have soared, Reuters reported. The decision was aimed at addressing any gaps in the availability of information to investors surrounding corporate defaults, the Securities and Exchange Board of India (SEBI) said in a statement.

India’s central bank has found that Yes Bank under-reported bad loans in the most recent financial year by Rs32.8bn ($457m), renewing scrutiny of the lender’s finances as it seeks to raise capital from global investors, the Financial Times reported. Yes Bank reported late on Monday that the Reserve Bank of India had uncovered the discrepancy in its accounts. That brought the total amount of non-performing assets at the bank to Rs111.6bn as of March 31, the end of India’s financial year.

India’s central bank on Wednesday said it will begin bankruptcy proceedings against Dewan Housing Finance Corporation Ltd (DHFL), a move that puts the country’s ailing shadow banking sector back in the spotlight. DHFL’s owes its lenders nearly 1 trillion rupees ($14 billion), including several mutual funds, banks, pension funds, insurance firms and retail investors, Reuters reported. The central bank’s move on DHFL comes after a string of defaults by rival IL&FS last year, which triggered fears about contagion in the financial sector and forced the government to take over the lender.

India’s state-run banks reported fraud worth 958 billion rupees ($13.3 billion) from April to end-September of this year, the country’s finance minister said on Tuesday, as the government struggles to help banks recoup losses, Reuters reported. State banks reported 5,743 cases of fraud in the period, most of which had taken place over the last several years, although 1,000 cases worth 25 billion rupees had just taken place, Nirmala Sitharaman told the upper house of parliament. “Government has taken comprehensive measures to curb the incidence of fraud in banks,” the minister said.

In a related story, Bloomberg News reported that Chinese technology conglomerate Tunghsu Group Co. is looking to extend its bond payment deadlines after failing to settle its obligations this week, in the latest sign that the nation’s private-sector firms are struggling to ease their debt load amid an economic slowdown. Beijing-based Tunghsu Group mainly produces photoelectric display components, but also operates new energy, real estate and other businesses. Its three listed companies -- Tunghsu Optoelectronic Technology Co., Tunghsu Azure Renewable Energy Co.

From Chinese conglomerates to coal miners in Indonesia, companies in Asia are facing rising financial stress, prompting fears defaults will pick up next year, Bloomberg News reported. Weaker regional borrowers with dollar bonds yielding at least 15% could come under further pressure next year, when they have about $15.1 billion or nearly a third of such debt due, according to Bloomberg-compiled data. Amid rising failures in China, some firms are finding it harder to refinance their debt offshore, while Indian shadow lenders are grappling with a liquidity crunch.

Lenders of Jaypee Infratech on Monday discussed the bids submitted by NBCC Ltd and Suraksha Realty to acquire the debt-ridden firm in an insolvency process, and decided to meet again in November last week to negotiate with the two contenders, sources said, The Economic Times reported. A meeting of Committee of Creditors (CoC) was held on Monday in Gurugram, Haryana to discuss NBCC and Suraksha Realty's resolution plans that were submitted on Sunday.

Realtor Lingamaneni Ramesh and a strong supporter of former AP chief minister Chandrababu Naidu, on Monday filed an Insolvency Petition (IP) before the National Company Law Tribunal (NCLT) after allegedly failing to repay loans taken from creditors, The New Indian Express reported. A strong supporter of former Chief Minister N Chandrababu Naidu, Lingamaneni Ramesh was recently in the news after he received notices for the demolition of the alleged illegal structures built by him in the 'karakatta' of river Krishna in Undavalli of Guntur district in Andhra Pradesh.

Homebuyers have filed more than 1,800 cases against builders under the Insolvency and Bankruptcy Code (IBC) since June 2018, the government told the Lok Sabha on Monday, Business Standard reported. These are the number of cases pending before the National Company Law Tribunal (NCLT) as on September 30. Citing the information received from NCLT, Minister of State for Corporate Affairs Anurag Singh Thakur said that a total 1,821 cases have been filed by homebuyers against builders since June 2018 under the Code.

The Reserve Bank can now seek resolution of non-banking financial companies having assets worth of at least ₹500 crore under the insolvency law, a move that is likely to help in addressing woes in the NBFC sector, Mint reported. After discussions with the central bank, the corporate affairs ministry on Monday issued a notification specifying the categories of financial service providers (FSPs) that can be taken up for resolution under the "generic framework" of the Insolvency and Bankruptcy Code.