Securities and Exchange Board of India (SEBI) Chairman U.K. Sinha said on Friday the capital markets regulator expected to have a new policy for initial public offerings for start-up companies in three to four months.

Reuters had reported this week SEBI was planning rule changes that will make it easier for home-grown start-ups to list their shares on local bourses, citing sources involved in the process.

Sinha, in an interaction with reporters, also said SEBI was in talks with the Reserve Bank of India about a new policy for wilful defaulters.

Under Indian law wilful defaulters are classified as companies or individuals who deliberately thwart repayment of dues to lenders.

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