![]() ![]() Sebi began probing the credit rating agency in 2020 and undertook a joint inspection with the Reserve Bank of India. Trending Trending Trending The latest buzz in pop culture, entertainment and more. The HC orders came on Brickwork’s petitions seeking a stay on Sebi’s proceedings against it on the grounds that it was not given a proper hearing. The HC also stayed the Sebi’s order that rejected the Brickwork’s settlement application in August 2021. ![]() Recently, the Supreme Court has allowed Sebi to conclude the proceedings for cancellation of Brickwork Ratings' licence for allegedly violating various credit rating regulations.Ī Bench led by Justice SA Nazeer stayed the Karnataka High Court’s orders that had rejected the Sebi’s plea to vacate its earlier orders that restrained it from concluding proceedings with regard to cancellation of the Brickwork’s license. The contraventions /deficiencies observed in the first and second inspections led to initiation of separate adjudication proceedings against Brickworks," the Sebi order read. ‘Ingenious,’ says TwitterĪ law professor has shared a photo of the pens used by her students for cheating, calling the trick an art form of sorts."In exercise of the powers contained under the SEBI Act, 1992 read with the SEBI (Credit Rating Agencies) Regulations, 1999, SEBI had carried out inspections of Brickwork for the periods April 1, 2014–Septemand April 1, 2017–September 30, 2018.
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