The Securities and Exchange Board of India\u2019s (SEBI) notifications dated May 30, 2018, and September 19, 2018, under the SEBI (Credit Rating Agencies) Regulations, 1999, have mandated the segregation of Ratings and Non-
\nRatings businesses of credit rating agencies. Pursuant to, and in order to comply with, these notifications, CRISIL\u2019s Board of Directors today approved transfer of the Ratings business to a 100% subsidiary of CRISIL Ltd.<\/p>\n
This transfer would be undertaken 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. This
\nsegregation will have no impact on CRISIL\u2019s businesses and the financial value to CRISIL\u2019s shareholders will
\nremain unchanged.<\/p>\n
CRISIL is the market leader for Ratings in India, covering over 28,000 large and mid-scale corporates and financial institutions. It has always maintained high governance standards and the ratings activities have always been conducted in a separate division, firewalled from other businesses.<\/p>\n
Therefore, the segregation process will be seamless and on completion, ratings of all financial instruments under respective guidelines of the financial sector regulators and authorities will move into the wholly owned subsidiary. During the interim period, the ratings business will continue uninterrupted. CRISIL remains committed to best-in-class quality of its ratings, strong analytical rigour, and exceptional service standards in all its offerings to customers and other stakeholders.<\/p>\n
Starting its journey as India\u2019s first ratings agency, CRISIL, today, is a diversified global analytics company, providing ratings, data, research, and solutions. CRISIL\u2019s customers range from micro, small and medium companies, large corporates and investors in India to top global financial institutions, insurance companies, private equity players and asset management companies.<\/p>\n
With operations in 9 countries and a 3,700-plus strong workforce, all CRISIL businesses continue to benefit from its diversified scale of operations, ability to invest in cutting-edge technologies and attract best-in-class talent. S&P Global Inc (SPGI), CRISIL\u2019s majority shareholder, remains committed to CRISIL and its businesses. SPGI will continue to hold majority shareholding in CRISIL Ltd, which will own 100% of the subsidiary that will house the Ratings business.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Securities and Exchange Board of India\u2019s (SEBI) notifications dated May 30, 2018, and September 19, 2018, under the SEBI (Credit Rating Agencies) Regulations, 1999, have mandated the segregation of Ratings and Non- Ratings businesses of credit rating agencies. Pursuant to, and in order to comply with, these notifications, CRISIL\u2019s Board of Directors today approved […]<\/p>\n","protected":false},"author":1,"featured_media":4802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[739,3738],"class_list":["post-4798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-and-politics","tag-crisil","tag-rating-agency"],"aioseo_notices":[],"yoast_head":"\n