Ramesh and Mahesh are the partners of the firm which carries various financial advisory services. (other than investment advisory services). The firm has net worth of ₹10 crore. The firm desires to engage in providing cr

As per Regulation 4 of the SEBI (Credit Rating Agencies) Regulations, 1999, the SEBI shall consider application of any credit rating agency only if it is made by any of the following categories, namely: A public financial institution; A scheduled commercial bank; A foreign bank operating in India with the approval of the Reserve Bank of India; A foreign credit rating agency incorporated in a Financial Action Task Force (FATF) member jurisdiction and recognised under their law, having a minimum of five years' experience in rating securities.; Any company or a body corporate, having continuous net worth of minimum rupees one hundred crore as per its audited annual accounts for the previous five years in relation to the date on which application to SEBI is made seeking registration. Here, Partnership firm is not covered under Regulation 4 and hence the firm cannot apply for certificate of registration under the SEBI (Credit Rating Agencies) Regulations 1999 irrespective of its net worth.