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The Securities and Exchange Board of India has cancelled the Certificate of Registration (CoR) granted to Brickwork Ratings India Private Limited as a Credit Rating Agency (CRA), vide Order WTM/ASB/MIRSD/MIRSD_CRADT/20175/2022-23 dated October 6, 2022. The CRA has been directed to wind down its operations inside a interval of six months from the date of the aforesaid Order and to not take any new purchasers /contemporary mandates from the date of Order ibid. 2. In view of the above, Regulated Entities/ Market Participants are suggested that in respect of scores/credit score evaluations required in phrases of any tips issued by the Reserve Bank, no such contemporary scores/evaluations shall be obtained from the above-talked about ranking company with rapid impact. The directions concerning the prudential remedy of the prevailing scores issued by the ranking company shall be suggested individually. (Yogesh Dayal) Press Release: 2022-2023/1033 |
