Promoter of Credit Rating Agency :

SEBI should not consider an application unless the applicant is promoted by a person belonging to any of the following categories, namely:

(i) a public financial institution;

(ii) a scheduled commercial bank;

(iii) a foreign bank operating in India with the approval of the Reserve Bank of India

(iv) a foreign credit rating agency recognized under Indian Law and having at least five years experience in rating securities;

(v) any company or a body corporate, having continuous net worth of minimum rupees one hundred crores as per its audited annual accounts for the previous five years in relation to the date on which application to SEBI is made seeking registration.