Wilful defaulter designation restricts public issues and mandates enhanced disclosures for issuers, promoters or directors. The amendment defines 'wilful defaulter' as per bank or financial institution categorisation and bars public equity issues by an issuer or any promoter or director who is a wilful defaulter; it also bars public issues of convertible debt if the issuer or related promoter/director is a wilful defaulter or if the issuer has defaulted on public debt interest or principal for over six months. Where a wilful defaulter status exists, issuers must make Part G Schedule VIII disclosures in offer documents and abridged letters of offer, show the status prominently on the cover page, and present disclosures in a separate indexed section. Rights-issue renunciation by promoters is limited to within the promoter group.