ICRA Limited vs SEBI on 1 September 2026

BEFORE THE SECURITIES APPELLATE TRIBUNAL

MUMBAI

Date: 01.09.2026

Appeal No. 90 of 2020

ICRA Ltd.

….. Appellant

Versus

Securities & Exchange Board of India

… Respondent

, Advocates i/b L&L Partners for the Appellant.

Mr. Mihir Mody, Advocate with Mr. Aavish Shetty, Mr. Vijay Chockalingam, Mr. Sudhanshuman Naruka, Advocates i/b.

M/s. K. Ashar & Co. for the Respondent.

With

Appeal No. 103 of 2020

India Ratings & Research Pvt. Ltd.

….. Appellant

Versus

Securities & Exchange Board of India

… Respondent

, Advocates i/b Trilegal for the Appellant.

Mr. Mihir Mody, Advocate with Mr. Aavish Shetty, Mr. Vijay Chockalingam, Mr. Sudhanshuman Naruka, Advocates i/b.

M/s. K. Ashar & Co. for the Respondent.

With

Appeal No. 456 of 2020

India Ratings & Research Pvt. Ltd.

….. Appellant

Versus

Securities & Exchange Board of India

… Respondent

, Advocates i/b Trilegal for the Appellant.

Mr. Mihir Mody, Advocate with Mr. Aavish Shetty, Mr. Vijay Chockalingam, Mr. Sudhanshuman Naruka, Advocates i/b.

M/s. K. Ashar & Co. for the Respondent.

With

Appeal No. 523 of 2020

And

Misc. Application No. 473 of 2020

ICRA Ltd.

….. Appellant

Versus

Securities & Exchange Board of India

… Respondent

, Advocates i/b DSK Legal for the Appellant.

Mr. Mihir Mody, Advocate with Mr. Aavish Shetty, Mr. Vijay Chockalingam, Mr. Sudhanshuman Naruka, Advocates i/b.

M/s. K. Ashar & Co. for the Respondent.

With

Appeal No. 556 of 2020

CARE Ratings Ltd.

….. Appellant

Versus

Securities & Exchange Board of India

… Respondent

Mr. Joby Mathew, Advocate with Mr. Aditya Joby, Mr. Harish Ballani, Advocates i/b Joby Mathew & Associates for the Appellant.

Mr. Mihir Mody, Advocate with Mr. Aavish Shetty, Mr. Vijay Chockalingam, Mr. Sudhanshuman Naruka, Advocates i/b.

M/s. K. Ashar & Co. for the Respondent.