Securities Appellate Tribunal (SAT) vide its order dated June 09, 2021, received by
CARE Ratings Limited on June 14, 2021, has reduced the quantum of penalty to Rs10 lakhs.
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Securities and Exchange Board of India (SEBI), had conducted adjudication proceedings in relation to credit ratings assigned to one of the company's customers; And vide its adjudication order dated July 24, 2020, SEBI had imposed a penalty of Rs100 lakh on the company, under secon 15HB of SEBI Act, 1992.
The company had appealed against the order before SAT.
At around 1.45 pm, CARE Ratings Ltd was trading at Rs655.70 per piece up by Rs24.9 or 3.95% from its previous closing of Rs630.80 per piece on the BSE.