{"id":307486,"date":"2019-12-27T11:04:55","date_gmt":"2019-12-27T05:34:55","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=307486"},"modified":"2019-12-27T11:23:08","modified_gmt":"2019-12-27T05:53:08","slug":"sebi-slaps-%e2%82%b925-lakh-penalty-each-on-icra-and-care-ratings-in-ilfs-case","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/sebi-slaps-%e2%82%b925-lakh-penalty-each-on-icra-and-care-ratings-in-ilfs-case\/","title":{"rendered":"SEBI slaps \u20b925 lakh penalty each on ICRA and CARE Ratings in IL&amp;FS case"},"content":{"rendered":"<p>Market regulator SEBI on Thursday slapped a penalty of \u20b925 lakh each on rating agencies CARE Ratings and ICRA for lack of \u201cdue diligence\u201d in credit ratings to non-convertible debentures of Infrastructure Leasing and Financial Services Ltd. <\/p>\n<p>In two separate adjudication orders on Thursday, SEBI also noted that the default in IL&amp;FS has occurred due to \u201clethargic indifference and needless procrastination and laxity\u201d of the two credit rating agencies. <\/p>\n<p>\u2018Lethargic indifference\u2019 <\/p>\n<p>\u201cThe law does not permit any allowance to be made for such lethargic indifference and needless procrastination as found in this case. The brazen failure as found in this case, had clearly defeated the purposes of the Regulations that is investor protection and orderly development of the securities markets,\u201d the order for CARE Ratings said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market regulator SEBI on Thursday slapped a penalty of \u20b925 lakh each on rating agencies CARE Ratings and ICRA for lack of \u201cdue diligence\u201d in credit ratings to non-convertible debentures of Infrastructure Leasing and Financial Services Ltd. In two separate adjudication orders on Thursday, SEBI also noted that the default in IL&amp;FS has occurred due to \u201clethargic indifference and needless procrastination and laxity\u201d of the two credit rating agencies. \u2018Lethargic indifference\u2019 \u201cThe law does not permit any allowance to be made for such lethargic indifference and needless procrastination as found in this case. The brazen failure as found in this [&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],"tags":[],"class_list":["post-307486","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/307486","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=307486"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/307486\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=307486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=307486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=307486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}