{"id":283247,"date":"2019-07-19T06:08:10","date_gmt":"2019-07-19T06:08:10","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=283247"},"modified":"2019-07-19T06:33:06","modified_gmt":"2019-07-19T06:33:06","slug":"ilfs-case-ratings-were-allegedly-doctored-by-agencies-says-grant-thornton","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ilfs-case-ratings-were-allegedly-doctored-by-agencies-says-grant-thornton\/","title":{"rendered":"IL&amp;FS case: Ratings were allegedly doctored by agencies, says Grant Thornton"},"content":{"rendered":"<p>MUMBAI: A football match, property deal and contribution to a trust are some of the points flagged by Grant Thornton India where professional judgements of credit ratings agencies were allegedly compromised while they assessed IL&amp;FS group companies. <\/p>\n<p>According to the report, IL&amp;FS Financial Services (IFIN) had invited an official of ratings agency Brickworks to a Real Madrid match in Europe, helped a senior person in Fitch Ratings in negotiating a property deal, and had contributed to Sameeksha Trust \u2013 the publisher of the prestigious academic journal Economic &amp; Political Weekly in which former Icra chairman DN Ghosh was associated. <\/p>\n<p>The report cites cases where ratings and rationales were changed after a review and meetings with the company. Sources added the audit firm had also found instances where the ratings were allegedly \u2018prepared\u2019 by the erstwhile directors of the company. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: A football match, property deal and contribution to a trust are some of the points flagged by Grant Thornton India where professional judgements of credit ratings agencies were allegedly compromised while they assessed IL&amp;FS group companies. According to the report, IL&amp;FS Financial Services (IFIN) had invited an official of ratings agency Brickworks to a Real Madrid match in Europe, helped a senior person in Fitch Ratings in negotiating a property deal, and had contributed to Sameeksha Trust \u2013 the publisher of the prestigious academic journal Economic &amp; Political Weekly in which former Icra chairman DN Ghosh was associated. The [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,193,136],"tags":[],"class_list":["post-283247","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-roads-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/283247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=283247"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/283247\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=283247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=283247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=283247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}