Eligibility criteria

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....red as a company under the 3[Companies Act, 2013 (18 of 2013)]; (b) the applicant has, in its Memorandum of Association, specified rating activity as one of its main objects; (c) 1[the applicant has a minimum net worth of rupees twenty five crore;] (d) the applicant has adequate infrastructure, to enable it to provide rating services in accordance with the provisions of the Act and these reg....

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....e satisfaction of the Board; (i) neither the applicant, nor any person directly or indirectly connected with the applicant has in the past been - (i) refused by the Board a certificate under these regulations or (ii) subjected to any proceedings for a contravention of the Act or of any rules or regulations made under the Act. Explanation.─ For the purpose of this clause, the expressi....