Eligibility criteria

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..... up and registered as a company under the 3 [ Companies Act, 2013 (18 of 2013) ] ; (b) the applicant has, in its Memorandum of Association, specified rating activity as one of its main objects; (c) 1 [the applicant has a minimum net worth of rupees twenty five crore;] (d) the applicant has adequate infrastructure, to enable it to provide rating services in accordance with the provisio .....

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..... other relevant experience to the satisfaction of the Board; (i) neither the applicant, nor any person directly or indirectly connected with the applicant has in the past been (i) refused by the Board a certificate under these regulations or (ii) subjected to any proceedings for a contravention of the Act or of any rules or regulations made under the Act. Explanation.─ For the .....

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..... f rupees five crores. Provided that a credit rating agency existing at the commencement of these regulations, with a net worth of less than rupees five crores, shall be deemed to have satisfied this condition, if it increases its net worth to the said minimum within a period of three years of such commencement. 2 Inserted by the SEBI (Credit Rating Agencies)(Amendment) Regulations, 2018, w. .....

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