Corporate News     31-Dec-20
CRISIL receives NCLT approval for scheme of arrangement
CRISIL announced that the National Company Law Tribunal, Mumbai Bench ('the NCLT') has now sanctioned the Scheme of Arrangement between CRISIL (‘the Transferor Company' or ‘CRISIL') and CRISIL Ratings (a company incorporated as a wholly owned subsidiary of CRISIL ) (‘the Transferee Company' or ‘CRISIL Ratings') and their respective Shareholders (‘the Scheme'). Certified copy of the Order of the NCLT is still awaited.

This Scheme would be effective on receipt of necessary approvals from SEBI for transfer of the license to act as a Credit Rating Agency to the Transferee Company as well as Reserve Bank of India granting accreditation to the Transferee Company to act as an External Credit Assessment Institution.

Previous News
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