Government Order G.O. Ms. No. 1869 of the Finance Department, Government of Tamil Nadu dated 15th January, 2018 on the rating of securities [N16-ZPM]

G.O. Ms. No. 1869

GOVERNMENT OF TAMIL NADU

Finance Department, Government of Tamil Nadu

Chennai, dated the 15th January, 2018

GOVERNMENT ORDER

Subject: The rating of securities by credit rating agencies under the Tamil Nadu Protection of Interests of Depositors Act, 1997, regarding.

1. In the circumstances reported by the Deputy General Manager, the Government of Tamil Nadu, after careful examination, hereby orders that every credit rating agency carrying on the rating of securities shall furnish Form D to the Securities Appellate Tribunal within ninety days.

2. The matter has been examined. Every credit rating agency carrying on the rating of securities shall make an application in Form D to the Securities Appellate Tribunal within ninety days, accompanied by a fee of five thousand rupees.

3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the rating of securities is undertaken, and the Securities Appellate Tribunal shall dispose of it within ninety days of its receipt.

4. Difficulties, if any, in the implementation of this government order may be brought to the notice of the Finance Department, Government of Tamil Nadu.

(Secretary to Government)