IL&FS case: Sebi raises penalty to Rs 1 crore each on ICRA, CARE – Business Standard


Markets regulator Sebi on Tuesday enhanced the penalty amount to Rs 1 crore each on rating agencies ICRA and CARE in connection with lapses on their parts while assigning credit rating to non-convertible debentures of IL&FS. In two separate orders on Tuesday, Sebi said that the lapses on the side of ICRA and CARE while rating the securities of IL&FS and its subsidiary IL&FS Financial Services (IFIN) have resulted in real and severe financial loss to investors.

Leave a Reply

Your email address will not be published. Required fields are marked *

16 − six =

This site uses Akismet to reduce spam. Learn how your comment data is processed.