 "sebi")
Markets regulator Sebi has imposed a penalty of Rs 1 crore on CARE Ratings in connection with lapses in assigning credit rating to non-convertible debentures of Reliance Communications (RCom).
The case relates to default committed by RCom on the repayment of principal amount of Rs 375 crore and interest of Rs 9.7 crore due in February 2017 and March 2017, respectively.
In May 2017, CARE Ratings downgraded the ratings assigned to non-convertible debentures (NCDs) issued by RCom to default.
Sebi found that CARE Ratings had failed to monitor the factors affecting the creditworthiness of RCom in a timely manner, resulting
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