July 18, 2019 / 3:17 AM / a month ago

India's CARE Ratings sends CEO on leave pending inquiry

BENGALURU, July 18 (Reuters) - India's CARE Ratings Ltd has sent Managing Director and Chief Executive Officer Rajesh Mokashi on leave until further notice, the rating agency said in a stock exchange filing here late on Wednesday.

This comes after concerns raised anonymously were forwarded to the company by the markets regulator Securities and Exchange Board of India (SEBI).

Earlier this month, the Indian unit of Moody’s Investors Service, ICRA Ltd, placed Managing Director and Chief Executive Officer Naresh Takkar on leave after SEBI forwarded concerns raised anonymously to the company.

CARE Ratings has named Executive Director (Ratings) T.N. Arun Kumar as its interim chief executive officer. (Reporting by Chandini Monnappa in Bengaluru; Editing by Subhranshu Sahu)

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