As a company secretary state which companies are to be covered under the defaulter list of the Reserve Bank of India. Also prepare a checklist in this regard.

Companies which are to be covered under the defaulter list of RBI are termed as willful defaulters: A "willful default" would be deemed to have occurred if any of the following events is noted:- The company has defaulted in meeting its payment/repayment obligations to the lender even when it has the capacity to honour the said obligations. The company has defaulted in meeting its payment/repayment obligations to the lender and has not utilised the finance from the lender for the specific purposes for which finance was availed of but has diverted the funds for other purposes. The company has defaulted in meeting its payment/repayment obligations to the lender and has siphoned off the funds so that the funds have not been utilised for the specific purpose for which finance was availed of, nor are the funds available with the unit in the form of other assets. In order to prevent the access to the capital markets by the willful defaulters, a copy of the list of willful defaulters (non-suit filed accounts) and list of willful defaulters (suit-filed accounts) are forwarded to SEBI by RBI and Credit Information Bureau (India) Ltd. (CIBIL) respectively. The Reserve Bank of India periodically releases the lists of Suit Filed Accounts and Willful Defaulters These are available on the Reserve Bank of India website on a special URL: defaultersrbi.org.in. Checklist (a) Check that the name of the Company or its Director(s) does not appear in the Defaulters list of Reserve Bank of India; (b) Check whether the company has/has not entered into any One Time Settlement (OTS) arrangement with any FI/Bank(s) during the period to which the Report pertains.