Sebi imposes a penalty of Rs 1-crore on Brickwork Rating India

Sebi on Tuesday imposed a penalty of Rs 1 crore on Brickwork Rating India for violation of Credit Rating Agencies Regulations.  Sebi and RBI had conducted a joint inspection, where they found lapses. 

“Though there is no allegation of any malafide on the part of the noticee, the failure by the noticee is blameworthy and serious considering the degree of responsibility bestowed upon it by the statute,” Sebi’s adjudicating officer said in an order.