Order under section 15-I(3) of SEBI Act, 1992 in the matter of Care Ratings Limited

Last updated: 23 September 2020
Quick Summary
The Securities and Exchange Board of India (SEBI) has issued an order against Care Ratings Limited (CARE), a registered Credit Rating Agency (CRA). Following defaults by Infrastructure Leasing & Financial Services Limited (IL&FS) and its subsidiary, SEBI investigated CARE's role in assigning ratings to IL&FS's debt. The investigation found that CARE placed excessive reliance on IL&FS management's submissions and failed to adequately adjust ratings or outlooks, leading to a penalty of Rs. 25,00,000.

Court :
SEBI

Brief :
UNDER SECTION 15-I (3) OF THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992. IN THE MATTER OF CARE RATINGS LIMITED [SEBI Registration No. IN/CRA/004/1999]

Citation :
WTM/GM/MIRSD/31 /2020-21

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1 Year PLAN
1999
(Excl. of GST ₹359)

BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)

3 Months PLAN
999
(Excl. of GST ₹179)

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