CARE Ratings Ltd.

The  Company  was incorporated as  Credit Analysis and  Research
 Limited  on  April 21, 1993  at  Mumbai, Maharashtra  as a public 
 limited  company under the Companies Act.  Our Company commenced its
 business activities subsequent to receipt of certificate for
 commencement of business dated May 27, 1993.  
 
 Our Company has acquired 6,020,540 equity shares of face value of Rs.
 10 each of Kalypto representing 75.13% of  the issued and paid-up
 share capital of Kalypto, pursuant to a share sale and purchase and
 shareholders’ agreement  dated November 22, 2011.
 
 Major events of the Company  
 
 1993-94  :
 
 Commenced rating operations 
 
 1996-97 :
 
  Expansion of ratings operations to  rating of toll roads,
 electricity board, municipal 
  corporations, structured instruments.
             
  Completed nine studies on  central  public sector undertakings
 selected for 
  disinvestment for the Disinvestment Commission.
 
 1997-98:
 
 Launched ‘CARE Loan Rating’ for rating term loans.
 
 1998-99:
 
 Started rating of debt mutual funds.
 
 1999-2000;
 
  Launched rating for two structured products: bonds backed by
 real-estate receivables 
  and collateral of shares.
 
 Obtained registration with SEBI under the CRA Regulations.
 
 2001-02:
 
  Founding member of ACRAA 
 
 2002-03:
 
  Launched corporate governance and value creation rating
 
 2004-05:
 
  Signed MoU with NSIC for empanelment as an approach rating agency
 for SSIs 
 
 2005-06 :
 
  Launched new products such as rating of SMEs, SSIs, mutual funds,
 issuer rating and 
  IPO grading    
 
 2006-07:
 
  Developed grading methodology for ultra mega power projects, urban
 local bodies, 
  infra projects at pre-bid and post-bid stages and micro financial
 institutions.
 
 2007-08 :
 
 Executed MoUs with 19 banks to provide rating facilities under Basel
 II framework 
 
 Commenced providing technical assistance to a rating agency in Mexico
 
 
  Received mandate from Ministry of Urban Development for rating of 13
  urban local 
  bodies under Jawaharlal Nehru National Urban Renewal Mission 
 
 2009-10 :
 
  Established CARE Knowledge Centre at Ahmedabad  
                          
  Commenced providing technical assistance to credit rating agency in
 Ecuador  
 
 2010-11:
 -Acquired license to operate credit rating operations in Maldives.
 Launched new products including equigrade, ESCO grading, RESCO
 grading and 
 financial strength grading of shipyards, edugrade and real estate
 project star ratings
 
 Rated a perpetual bond issued by a non financial services corporate
 company.
 
 2012
 -Acquisition of 75.13% of the issued and paid up equity share capital
 of Kalypto.
 -Acquired indirect recognition as an external credit assessment
 institution from Hong 
  Kong Monetary Authority   
 
 2013
 -Credit Analysis and Research Ltd has proposed a Final Dividend of
 Rs. 8 per share and  have declared an Interim Dividend of Rs. 6/- per
 equity share of Rs. 10/- each.
 
 2014
 -CARE Ratings as knowledge partner @ CIMSME - MSME Banking Excellence
 Awards in Delhi on 9th Jan 2014.
 
 2015
 - CARE signs MoU with Japan Credit Rating Agency.
 
 2016
 -CARE Ratings signs MoU to establish Credit Rating Agency in Nepal.