Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 25 lakh on rating agency ICRA for its failure to carry out proper due diligence while assigning credit rating to the non-convertible debentures (NCDs) of Infrastructure Leasing and Financial Services (IL&FS).
ICRA is an independent and professional investment Information and credit rating agency. The company operates through four segments - Rating, research and other services; Consulting services; Outsourced and Information services, and Professional and IT Services.
