SECURITIES & EXCH.BOARD OF INDIA vs M/S INFORMETICS VALUATION & RATING P.LTD

The Supreme Court, while adjudicating the appeal under Section 15Z of the Securities and Exchange Board of India Act, 1992, upheld the Securities Appellate Tribunal's order which remanded the matter back to SEBI for reconsideration of the respondent's application for registration as a Credit Rating Agency without requiring audited accounts of the promoters. The Court emphasized the regulatory powers of SEBI under Section 11 and Section 30 of the SEBI Act, affirming the need for a balanced approach in investor protection and regulatory compliance. The appeal was dismissed, thereby affirming the SAT's decision.