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".