SEBI asks Brickwork Ratings to shut operations in 6 months

The Securities and Exchange Board of India (SEBI) asked Brickwork Ratings to wind down operations within six months stating "failure to exercise proper skill, care and diligence, while discharging its duties as a credit rating agency". SEBI instructed the agency to not take on fresh clients or new mandates from now. Brickwork is one of seven SEBI-registered credit rating agencies.