CARE Ratings settles CRA rules violation case with Sebi; pays Rs 13 lakh

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CARE Ratings settles CRA rules violation case with Sebi; pays Rs 13 lakh - Business Standard

Quick Summary:

"In view of the acceptance of the settlement terms and the receipt of the settlement amount...the instant adjudication proceedings initiated against CARE Ratings Limited is disposed of in terms of...the Settlement Regulations," Sebi said.

The order came after CARE Ratings filed an application with Sebi proposing to settle the proceedings initiated against it, "without admitting or denying the findings of facts" through a settlement order.

CARE Ratings Ltd on Friday settled a case pertaining to alleged violation of Credit Rating Agencies (CRA) rules with markets regulator Sebi after paying Rs 13.05 lakh.