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CRISIL board |
The board of CRISIL, on Wednesday, gave the nod for the transfer, which is being done to comply with SEBI norms of last year.
It may be recalled that SEBI had last year (in May and September) modified its regulations for credit rating agencies and mandated the segregation of rating and non-ratings businesses of credit-rating agencies.
CRISIL proposes to undertake the transfer of its ratings business through a scheme of arrangement in terms of Section 230 to 232 of the Companies Act, 2013, to be approved by the stock exchanges and the National Company Law Tribunal.
It may be recalled that SEBI had last year (in May and September) modified its regulations for credit rating agencies and mandated the segregation of rating and non-ratings businesses of credit-rating agencies.
CRISIL proposes to undertake the transfer of its ratings business through a scheme of arrangement in terms of Section 230 to 232 of the Companies Act, 2013, to be approved by the stock exchanges and the National Company Law Tribunal.
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