The Securities Appellate Tribunal (SAT) on Friday granted interim relief to Brickwork Ratings by staying the cancellation of its licence, as ordered by markets regulator Securities and Exchange Board of India (Sebi), until the next hearing, which is scheduled for November 15.
Keeping the cancellation of licence on hold, the tribunal maintained the ban on onboarding any new client, as directed by Sebi.
“The SAT has stayed the operation of Sebi’s order pending final hearing of the appeal, stating that in the meantime until the appeal is heard finally, Brickworks should not take up new assignments,” Brickwork Ratings said in its statement.
Brickwork