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IL&FS case: Sebi slaps Rs 25 lakh fine each on ICRA, CARE, India Ratings

IL&FS case: Sebi slaps Rs 25 lakh fine each on ICRA, CARE, India Ratings

Friday, December 27, 2019, 7:41 PM

The market-regulator SEBI slapped the rating agencies ICRA and CARE with a fine of Rs.25-lakh each for "vivid and obvious" failure to flag the dwindling financial health of IL&FS, collapse of which sparked a-liquidity-crisis in the country. Both ICRA and CARE were given 45-days each to pay the total-amount of penalty for their failure to exercise due diligence while discharging their responsibilities as credit-rating-agencies.
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