Policy for Appeal
Policy for Appeal by Issuers against Rating being assigned to its Instruments (Policy for Appeal)
Last Reviewed On: 02-Sep-2025 (Version 6.0)
In line with SEBI guidelines and as provided for in the Circulars issued by the former from time to time, Acuite will adhere to the prescribed timelines for accepting requests for appeal by issuers.
|
Case Type |
Scenario |
Timelines - immediately but not later than |
|
Initial Rating |
Acceptance of Rating or request for review/appeal of Rating by the Issuer |
5 working days of communication of rating by the CRA to the Issuer |
|
Periodic surveillance |
Request for review/ appeal of rating by the Issuer |
3 working days of the Rating Committee meeting |
An issuer can request a reconsideration of their rating as per the above timelines depending on the case type. A request for appeal will be considered only once.
Appeal Process:
To initiate the appeal process, the issuer should follow these steps:
- The appeal request must be submitted in the specified format provided by Acuite.
- The decision of the Appeal Committee, which may result in a revised or reaffirmed rating, will be communicated to the client.
- With respect to initial rating, an issuer desirous of accepting the rating and having the Press Release published and disseminated by Acuite, is required to furnish a letter of acceptance after receiving the decision from the Appeal Committee.
- An unaccepted rating will be published in accordance with SEBI's prescribed timeline.
- Acuite will not consider incomplete appeal requests or requests submitted beyond the SEBI-prescribed timelines.
Issuers and users of ratings are advised to refer the following circulars:
|
Circular |
Date |
Link |
|
Master Circular for Credit Rating Agencies (CRAs)# |
11-Jul-2025 |
|
|
Measures for Ease of Doing Business for Credit Rating Agencies (CRAs) - Timelines and Disclosures# |
04-Jul-2024 |
#Source: www.sebi.gov.in
This version supersedes the earlier versions.
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