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The 4 on 5 grading for Reliance Power (RPL) raised so many questions that CRISIL was forced to hold a quick teleconference to provide answers. RPL is all about Anil Ambani’s promise to set up an extraordinary 28 projects in the next 10 years. What did CRISIL have to say? In a nutshell, it said that grading was a subjective exercise and the grading committee was convinced of the company’s...
