Discontinuance of certain services and activities by ICRA Limited
Pursuant to the SEBI (Credit Rating Agencies) (Amendment) Regulations, 2018 along with its subsequent amendment(s) and clarifications issued by SEBI from time to time in this matter (hereinafter collectively referred to as the “Amendment Regulations 2018”), a credit rating agency shall not carry out any activity other than the following with effect from May 30th, 2020
- Rating of securities offered by way of public or rights issue.
- Rating of financial instruments under the respective guidelines of SEBI, Reserve Bank of India, Insurance Regulatory and Development Authority of India, Pension Fund Regulatory and Development Authority, Ministry of Corporate Affairs and Insolvency and Bankruptcy Board of India.
- Research activities, incidental to rating, such as research for economy, industries and companies.
Accordingly, ICRA Limited has discontinued the gradings and other related activities which are not allowed to be carried out in accordance to the Amendment Regulations 2018 with effect from May 30, 2020 and does not accept any new business under these activities.
You may refer to the following link for the details of all such gradings and other related activities