SEBI, CCI at odds over jurisdiction of rating agencies
In what seems to be a fight over the jurisdiction of credit rating agencies, CCI ruled out SEBI s dissension on the grounds that it is well within its authority to probe anti-trust practices
BusinessToday.In | January 12, 2021 | Updated 11:49 IST
SEBI is opposed to CCI s interpretation that it can probe the business practices of rating agencies
The Securities and Exchange Board of India (SEBI) has asked the Competition Commission of India (CCI) not to consider a complaint filed by ratings agency Brickworks, which moved the competition watchdog alleging price gouging by its peers.
Markets regulator Sebi on Thursday imposed a total penalty of Rs 27 crore on NDTV promoters, Prannoy Roy and Radhika Roy, as well as on RRPR Holding for violating various securities norms by concealing information from shareholders regarding certain loan agreements. RRPR Holding is a promoter entity of New Delhi Television Ltd (NDTV). According to Sebi, certain loan agreements had clauses that have adversarial effect on the NDTV shareholders. The regulator said its probe began after receipt of complaints, in 2017 from Quantum Securities Pvt Ltd a shareholder of NDTV about an alleged violation of rules by non-disclosure of material information to the shareholders about loan agreements with VCPL.
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