CARE Ratings shares fall nearly 5% after MD and CEO Rajesh Mokashi sent on leave

Shares of CARE Ratings on Thursday fell by nearly 5 percent after the company sent its MD and CEO Rajesh Mokashi on leave, pending completion of the examination of an anonymous complaint received by SEBI

Press Trust of India July 18, 2019 17:46:08 IST
CARE Ratings shares fall nearly 5% after MD and CEO Rajesh Mokashi sent on leave
  • Shares of CARE Ratings on Thursday fell by nearly 5 percent 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 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

  • 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

New Delhi: Shares of CARE Ratings on Thursday fell by nearly 5 percent 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 percent to close at Rs 864.35 on the BSE. During the day, it tanked 5.28 percent to Rs 858.75.

CARE Ratings shares fall nearly 5 after MD and CEO Rajesh Mokashi sent on leave

Representational image. Reuters.

On the NSE, shares dropped 3.21 percent to close at Rs 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.

Updated Date:

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