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IL&FS Case Lapses: SEBI slaps fine on ICRA, Care

IL&FS Case Lapses: SEBI slaps fine on ICRA, Care

Friday, December 27, 2019, 3:20 PM

The Securities and Exchange Board of India (Sebi), in two separate orders, imposed a penalty of `25 lakh each on ICRA and CARE Ratings over ratings given to the non-convertible debentures (NCDs) of IL&FS. The market regulator stated in its order that despite the declining financial indicators of IL&FS, the rating agencies failed to intervene on time.
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