CareEdge Group controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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IL&FS ratings and regulatory scrutiny
CareEdge and other rating agencies had rated Infrastructure Leasing & Financial Services and related entities before the group entered a severe financial crisis. Ratings were downgraded after defaults began. A Grant Thornton audit reported that IL&FS management had supplied incomplete or inaccurate information, while SEBI later identified procedural lapses and imposed penalties on CareEdge and ICRA. The episode prompted wider criticism of rating surveillance and the issuer-pays model, although an independent inquiry found no evidence of wrongdoing by then-chief executive Rajesh Mokashi.