{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/6374bb5cfa2a6f0011243f0e/688cb3a810d99198450fb0c1?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Unrated Credit Risk: Courts, Regulators and the Erosion of Trust","thumbnail_width":200,"thumbnail_height":200,"thumbnail_url":"https://open-images.acast.com/shows/6374bb5cfa2a6f0011243f0e/1754051477845-bcb57417-9156-4433-a830-7242d0388943.jpeg?height=200","description":"<p>In 2018, a wave of corporate defaults — IL&amp;FS, DHFL, Yes Bank — exposed deep cracks in India’s credit rating system. Ratings dropped from AAA to junk after defaults. Investors lost trust, regulators scrambled, and rating agencies came under fire.</p><p><br></p><p>Now, in 2025, a Securities Appellate Tribunal (SAT) order has delivered a stinging rebuke to SEBI’s probe into CARE Ratings’ former MD, calling it a “colossal waste of judicial time.” What happened to SEBI’s regulatory crusade? Why have no senior executives been held liable?</p>","author_name":"Debashis Basu & Sucheta Dalal"}