IL&FS case: SEBI widens investigation into role of rating agencies; looks into possible systemic lapses at all five rating agencies
Grant Thornton said it identified multiple e-mails over the period from 2008 to 2018 which indicate that the IL&FS group was under stress or faced liquidity issues since 2015.
IL&FS fiasco: Sending ICRA executive on leave isn't enough; time regulator kicked off sweeping reforms for raters
IL&FS went bust last year thus putting the rating agencies squarely in the dock.
ICRA said in May it had appointed external experts to probe the anonymous complaint concerning the credit rating it assigned to one of its customers
Unaccounted income so assessed in scrutiny assessment is liable to be taxed at a higher rate without any set off losses, expenses