Sep 30, 2020

SEBI Relaxation from Default Recognition due to COVID-19 Pandemic

SEBI had, by its Circular dated March 30, 2020, permitted credit rating agencies (‘CRAs’) to not consider a default as such if the delay in payment of interest / principal has arisen solely due to COVID-19 pandemic related stress. Now, SEBI has, by its Circular dated August 31, 2020, extended this temporary relaxation till December 31, 2020.

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