The Securities and Exchange Board of India vide its notification dated 31st August 2020 has extended the relaxation given for default recognition on account of restructuring of debt, till 31st December 2020.
SEBI in its earlier circular dated 30th March 2020 has provided for relaxation from recognition of default owing to moratorium permitted by RBI and lockdown due to COVID-19 pandemic and the credit rating agencies are directed not to assign default grade to entities that undergo restructuring solely due to Covid-related stress, earlier in March.
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