The Securities and Exchange Board of India (SEBI) has moved the Supreme Court against a stay order issued by the Karnataka High Court in the case of Brickwork Ratings India. The high court had issued an interim stay on the capital markets regulator’s order rejecting the credit rating agency’s consent application.
Against this backdrop, Jitendra Motwani, Partner at Economic Laws Practice (ELP) has been quoted by The Economic Times in their article titled ‘Sebi moves SC against stay on order rejecting Brickwork’s consent plea’. He says, “Given that the settlement regulation itself provides for discretionary powers to Internal Committee to decide on the mitigating and aggravating factors to arrive at the amount of settlement, there may be a view that the order should be passed after adhering to the principles of natural justice.”
Read the comment and detailed article here: https://bit.ly/3ze0qJG