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IL&FS Case: Sebi widens probe into role of rating agencies

Updated : July 21, 2019 10:57 AM IST

While CEOs of two rating agencies have already been forced to go on leave pending completion of the probe on the advice of Sebi, officials said the regulator is now looking into possible systemic lapses at all five rating agencies .
The special audit conducted by Grant Thornton found that its review of emails exchanged by the former key executives of Infrastructure Leasing and Financial Services (IL&FS) group and the top officials of rating agencies showed that they were aware of the serious liquidity concerns .
IL&FS Case: Sebi widens probe into role of rating agencies

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