ICRA top brass under SEBI scanner for AAA rating to IL&FS

Rating agency ICRA’s top brass is under Sebi scanner for alleged interference to ensure good rating for IL&FS, the agency said in a disclosure. Sebi is looking at whistle blower allegations that ICRA top management meddled to ensure AAA rating to IL&FS. The market regulator has forwarded the whistle blower complaint to the rating agency. “The board of ICRA has given KPMG mandate to look into allegations,” sources said.