Action on Inspection and Investigation of credit rating agency :
A credit rating agency which –
(a) fails to comply with any condition subject to which a certificate has been granted;
(b) contravenes any of the provisions of the Act or these regulations or any other regulations made under the Act; shall be dealt with in the manner provided under Chapter V of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008. SEBI or the chairman shall after consideration of inspection or investigation report take such action as SEBI or the chairman may deem fit and appropriate including action under chapter V of the SEBI (Intermediaries) Regulations, 2008.