Why Sebi probing rating agencies regarding IL&FS group?

  • 2 Answers
  • Grant Thornton
    answered 4 months ago in The Hindu Businessline
  • The special audit ( by Grant Thornton) has also flagged a potential conflict of interest between IL&FS and CARE, as for the period 2007 to 2013, IL&FS Ltd and IFIN owned equity shares of approximately 5-9 per cent in the rating agency.
  • Moneycontrol
    answered 4 months ago in Moneycontrol
  • Because forensic audit mandated by the new board of crisis-ridden IL&FS flagged serious lapses and their possible complicity with the former top brass of the group in giving top ratings despite weak financials.

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