{"id":361593,"date":"2020-07-07T10:07:11","date_gmt":"2020-07-07T04:37:11","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=361593"},"modified":"2020-07-07T11:07:02","modified_gmt":"2020-07-07T05:37:02","slug":"sat-backs-sebis-fresh-show-cause-notices-to-rating-agencies-in-ilfs-case","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/sat-backs-sebis-fresh-show-cause-notices-to-rating-agencies-in-ilfs-case\/","title":{"rendered":"SAT backs Sebi&#8217;s fresh show-cause notices to rating agencies in IL&amp;FS case"},"content":{"rendered":"<p>The Securities Appellate Tribunal (SAT) has held that the Securities and Exchange Board of India (Sebi) has the power to issue a second set of show-cause notices to rating agencies in the IL&amp;FS matter. It also said the \u201cproceedings in pursuance to the second show-cause would continue\u201d. <\/p>\n<p>In January 2020, Sebi had issued a second set of show-cause notices seeking an explanation as to why the penalty should not be enhanced. <\/p>\n<p>Some rating agencies had moved the tribunal, seeking a stay on another set of show-cause notices issued by Sebi in January 2020. <\/p>\n<p>&#8220;Having heard the learned counsel for the parties at some length, we are prima facie of the opinion that Sebi has the power to initiate proceedings under Section 15-I(3) of the SEBI Act,&#8221; the SAT said in an order dated July 1 in an appeal filed by India Ratings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Securities Appellate Tribunal (SAT) has held that the Securities and Exchange Board of India (Sebi) has the power to issue a second set of show-cause notices to rating agencies in the IL&amp;FS matter. It also said the \u201cproceedings in pursuance to the second show-cause would continue\u201d. In January 2020, Sebi had issued a second set of show-cause notices seeking an explanation as to why the penalty should not be enhanced. Some rating agencies had moved the tribunal, seeking a stay on another set of show-cause notices issued by Sebi in January 2020. &#8220;Having heard the learned counsel for 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":[135,130,168],"tags":[],"class_list":["post-361593","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-roads-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/361593","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=361593"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/361593\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=361593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=361593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=361593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}