Comments
Shares of CARE Ratings on Thursday fell by nearly 5 per cent after the company sent its MD and CEO Rajesh Mokashi on leave, pending completion of the examination of an anonymous complaint received by SEBI.
The scrip declined 4.67 per cent to close at ₹864.35 on the BSE. During the day, it tanked 5.28 per cent to ₹858.75. On the NSE, shares dropped 3.21 per cent to close at ₹878.
The company has decided to appoint T N Arun Kumar, currently executive director (ratings), as interim chief executive officer (CEO), CARE Ratings said in a late evening regulatory filing on Wednesday. “The board of directors of CARE Ratings has at its meeting decided, pending the completion of the examination of anonymous complaint received by Sebi and forwarded to CARE Ratings, to place Rajesh Mokashi, Managing Director and CEO of CARE, on leave with immediate effect, until further notice,” it said.
Earlier this month, ICRA decided to send its managing director and chief executive Naresh Takkar on forced leave, pending an enquiry into the “concerns” raised by the capital markets watchdog SEBI.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.