Though the quantum of penalty is seen as less, it nevertheless signals that action can be taken for such lapses.
SEBI Image.A day after Sebi imposed a penalty of Rs 25 lakh each on rating agencies Icra and Care for lapses over ratings given to NCDs of IL&FS, their shares rallied; the day also saw the markets rallying. Though the quantum of penalty is seen as less, it nevertheless signals that action can be taken for such lapses.
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