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Rating agency ICRA’s board of directors has placed its Managing Director and Group CEO Naresh Takkar on leave as it looks into an anonymous complaint sent by market regulator SEBI.
“The board of directors of ICRA has at its meeting today, decided, pending the completion of the examination of the concerns raised in the anonymous representation that was forwarded to the company by the Securities and Exchange Board of India, to place Naresh Takkar on leave, effective immediately, until further notice,” it said in a regulatory filing on Monday, without disclosing the nature of the complaint.
The board has also decided to appoint Vipul Agarwal, as interim Chief Operating Officerapart from his role as Group Chief Financial Officer effective from Monday. He will be responsible for handling ICRA ratings and non-ratings businesses.
The senior management of ICRA and its group entities, will also report to him.
Further, during Takkar’s period of leave, Agarwal will report to the board. ICRA’s shares remained largely flat and closed at ₹3,218.35 apiece on the Bombay Stock Exchange.
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