CRISIL Ltd. : Changes in CRISILs Board of Directors

CRISIL has made changes in its Board of Directors in view of the upcoming regulations which specify a maximum tenure of 10 years for independent directors. Even though this provision is applicable on a prospective basis and only once the new regulations come into force, the Board of Directors of CRISIL felt it would be important to follow the spirit of the provision to maintain the highest standards of corporate governance. Accordingly, two independent directors, Mr. B.V. Bhargava and Ms. Rama Bijapurkar, who have spent more than 10 years on the Board of Directors of CRISIL, have stepped down.
As members of the Board of Directors of CRISIL, Mr. Bhargava and Ms. Bijapurkar provided invaluable guidance and contributed tremendously to the growth and diversification of the company.
In addition, Mr. M Damodaran has been appointed as an additional director to the Board of Directors of CRISIL, as an Independent and Non-Executive Director. Mr. Damodaran has had a long and distinguished career as a member of the Indian Administrative Service. He has held several positions of importance in the government and the financial sector. He was a Joint Secretary in the Ministry of Finance, Banking Division, Chairman of UTI with additional charge of IDBI and Chairman of the Securities and Exchange Board of India.

Director, Communications and Brand Management
CRISIL Limited
Tel: +91-22- 3342 1838
Mobile: +91- 98192 48980
Email: Mitu.samar@crisil.com

Communications and Brand Management
CRISIL Limited
Tel: +91-22- 3342 1818
Mobile: +91- 98192 48980
Email: tanuja.abhinandan@crisil.com

CRISIL is a global analytical company providing ratings, research, and risk and policy advisory services.
We are India's leading ratings agency. We are also the foremost provider of high-end research to the world's largest banks and leading corporations. With sustainable competitive advantage arising from our strong brand, unmatched credibility, market leadership across businesses, and large customer base, we deliver analysis, opinions, and solutions that make markets function better.
Our defining trait is our ability to convert data and information into expert judgements and forecasts across a wide range of domains, with deep expertise and complete objectivity.
At the core of our credibility, built up assiduously over the years, are our values: Integrity, Independence, Analytical Rigour, Commitment and Innovation.
CRISIL's majority shareholder is Standard and Poor's(S&P). Standard & Poor's, a part of McGraw Hill

Financial, is the world's foremost provider of credit ratings.

January 15, 2014

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January 15, 2014

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