Infomerics Settles with SEBI over Rating Rule Violations

Infomerics Valuation and Rating Pvt Ltd resolved a case of alleged credit rating rules violation with SEBI, paying Rs 57.63 lakh as settlement. SEBI's inspection identified non-compliance with CRA regulations. Infomerics submitted a settlement request, which was approved by SEBI's High Powered Advisory Committee.

On Friday, Infomerics Valuation and Rating Pvt Ltd reached a settlement with the capital markets regulator SEBI over alleged violations of credit rating agency regulations, agreeing to pay Rs 57.63 lakh in settlement charges.

Previously, SEBI had inspected Infomerics for adherence to regulations from February 2022 to January 2023, during which it alleged non-compliance with CRA norms dating back to June 2019. A show cause notice was subsequently issued to Infomerics in late October 2023.

After submitting a settlement application, Infomerics was advised by SEBI to hold individuals accountable for any irregularities identified. The company's proposed settlement terms were then approved by SEBI's High Powered Advisory Committee, concluding the proceedings with the payment of the settlement fee.

(With inputs from agencies.)