Sebi issues warning to Care Ratings and orders corrective measures

The Securities and Exchange Board of India (Sebi) has issued a warning to Care Ratings after observing discrepancies during an inspection held between December 2021 and April 2023, the rating agency said in an exchange disclosure. 
 

The warning pertains to incorrect information in rating committee note, delay in periodic review of rating, non-inclusion of mandatory clauses in rating agreement, among others. The market regulator has advised the rating agency to take corrective steps, rectify discrepancies and submit the action taken report (ATR) to Sebi within 30 days.