IL&FS scam effect: After ICRA, CARE is the second rating agency to send its top brass on 'leave'
The Care's is the second rating agency head after
Several rating agencies had given high ratings to IL&FS when the ground reality of the company was different.
"The board of directors of CARE Ratings Limited has at its meeting today decided, pending the completion of the examination of anonymous complaint received by SEBI to place Mr Rajesh Mokashi, Managing Director & CEO of CARE, on leave, with immediate effect, until further notice," the statement said.
The company said the board of directors of CARE has decided to appoint T.N. Arun Kumar, currently Executive Director (Ratings), as Interim Chief Executive Officer of the company.