IL&FS case: CVC intervenes in Sebi’s probe of credit rating agencies

The course of adopted in coping with credit-rating agencies (CRAs) has come beneath the scanner of the Central Vigilance Commission (CVC), a physique that probes corruption in authorities.

The fee has requested the Securities and Exchange Board of India (Sebi) to clarify the position of CRAs and the standing of its probe into the Infrastructure Leasing & Financial Services (IL&FS) fraud case. According to sources, the vigilance workplace is making an attempt to identify influential components in the rating course of and whether or not the regulator had any indication a few potential collusion between the rating …

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