Section 26 in Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999
26. Securities issued by promoter.
(1)No credit rating agency shall rate a security issued by its promoter.(2)In case promoter is a lending institution, its Chairman, director or employee shall not be a Chairman, director or employee of credit rating agency or its rating committee.Provided that sub-regulation (2) shall come into force within three months from commencement of these regulations.
