1. As per SEBI directives

Infomerics Ratings is undertaking only  “SOLICITED RATINGS”. We donot undertake “UNSOLICITED RATINGS”.

2. Functioning and Evaluation of Rating Committee / Sub-Committee


Rating Committee

The Rating Committee (RC) of Infomerics Ratings consists of Nine Members (Two Committees of five members each) out of which four members of each committee who are neither the employees of the company nor the members of the Board of the company. CRO of the company is the common member in both the committees.

The members of the RC shall be professionally qualified persons of eminence who shall have long & established experience in domestic and/or overseas corporate/banking arena, and/or in public services and in the fields of finance, economics, industry or banking/credit appraisal or persons who have held senior positions in regulatory organizations.

Internal Rating Committee

Infomerics shall have two Internal Rating Committees (IRC) with the following composition:

Committee A Committee B
1. Chief Analytical Officer 1. Vice President
2. Vice President 2. AVP/VP
3. AVP/VP 3. AVP


Review Rating Committee

The Rating Review Committee (RRC) of Infomerics, consists of Four Members who are different from those in the Rating Committee (RC) of the CRA that assigned the earlier rating (which is under appeal). Half the members of the Rating Review Committee of Infomerics are Independent (members not having any pecuniary relationship with the CRA or any of its employees).

The Eligibility to become a Member of Rating Review committee is same as of RC.



The meetings shall be considered to have appropriately held if quorum is present. Quorum for this purpose shall constitute at least three members.


Rating Committee

RC shall be the authority to assign each Credit Rating (initial), and review of ratings including surveillance. Each Credit Rating and shall be decided by the RC in its appropriately convened meeting and shall be documented by way of Minutes which shall be signed by the Chairman of the meeting.

RC members while deliberating on each rating in RC meeting shall form their opinion based on the information & analysis presented before them in the form of a Rating Note and the information available in the public domain and/or in their individual possession.

Internal Rating Committee

The duties & responsibilities of IRC members shall be same as for RC members. Minutes of IRC Meeting shall be prepared and be put up at the next RC Meeting for information.

The IRC meeting shall be considered to have been held properly if all members attend the meeting in person or through video or through con call. Each IRC member shall have one vote and the committee shall strive to decide unanimously. In case of absence of consensus, the proposal shall be put to vote with each member having one vote and in case of a tie the vote of Chairman of the meeting will be deciding vote. The dissent among members shall be duly recorded in the minutes.

Review Rating Committee

The Duties and responsibility of the RRC members is same as of the RC Members. The RRC Members should appropriately consider the Representation received form the Client and accordingly take the decision.


Rating Committee

Each RC member shall have one vote and the decision would be based on majority. The dissent, if any, shall be recorded with the reasons.

Internal Rating Committee

The duties & responsibilities of IRC members shall be same as for RC members. Each IRC member shall have one vote and in case of tie, the vote of Chairman of the committee will be deciding the proposal. The dissent if any, shall be recorded with reasons.

Review Rating Committee

All the rating decisions taken place at RRC shall be recorded in Minutes. Minutes of RRC Meeting shall be prepared and be put up at the next RRC Meeting for confirmation. However, the rating sheet shall be signed off by the attending RRC members within 24 hours of the meeting / decision.


Any RC member or RRC Member who is also a director of any other entity is an “interested party” so far as the rating of such entity is concerned. If the RC Member or RRC Member is a whole-time director of such other entity, such entity shall not be rated by Infomerics Ratings. However,

1) if the RC/Board Committee Member is only an independent director in such other entity, Infomerics Ratings may undertake ratings of that entity; however, in such a case, the same shall be disclosed clearly on the first page of the RCN and the PRs;

2) if the RC/Board Committee Member is appointed or associated with regulated appointed committee and, in turn, deals with companies and/or entities and/or banks, the same shall be disclosed in the RCN and PRs. The rating agenda papers are not to be sent to such a member who is an “interested party”. Further, the member is required to recuse himself/herself from the committee deliberations/rating process.