Sebi seeks explanation from 5 rating agencies on collusion with IL&FS brass

The Securities and Exchange Board of India (Sebi) has sought explanation from all five credit rating agencies, asking them to furnish responses over alleged lapses and possible collusion with the Infrastructure Leasing  and Financial Services (IL&FS) brass. An official aware of the matter said, “The charges are serious and need a thorough examination of each aspect raised by the auditors. It is important that people whose roles are under suspicion are sidelined or sent on indefinite leave until the investigation concludes.” The new board of IL&FS had appointed .....

Key stories on business-standard.com are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.