Asia
Madras High Court Lifts Injunction Order Against CARE Ratings' Asset Transfer
The Madras High Court in India has vacated its injunction order against CARE Ratings (NSE:CARERATING, BOM:534804) that had restrained the company from alienating or transferring its assets, according to a filing to the Indian stock exchanges on Thursday.The court issued the order on June 3, lifting the restriction after the company complied with the directives given in the order dated Feb. 1, 2023.The company received a copy of this order on June 4.In 2023, the Madras High Court imposed the injunction until the company provided adequate security. The latest court order showed that the ratings agency has met the necessary compliance requirements.
BOM:534804NSE:CARERATING
