The Securities and Exchange Board of India (Sebi) on Thursday cancelled the recognition certificate granted to Brickwork Ratings India, one of the seven registered credit rating agencies (CRAS) in the country, for "repeated lapses" and irregularities in "discharging its duties".
The Sebi directed Brickwork to wind down its operations within six months and intimate its clients about the same. During this period, Brickwork cannot onboard any new clients or take fresh mandates.
Officials of ratings agencies said the cancellation of Brickwork's licence could have ramifications for the banking industry.
Denne historien er fra October 07, 2022-utgaven av Business Standard.
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Denne historien er fra October 07, 2022-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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