Sebi issues show-case notice to 2 former senior executives of CARE Ratings

This is for the alleged interference in rating action of YES Bank and DHFL

The Securities and Exchange Board of India (Sebi) on Friday issued a show-case notice to two former senior executives of CARE Ratings for their alleged interference in the rating action of YES Bank and Dewan Housing Finance (DHFL), according to sources.

In the notice, Sebi has asked former managing director (MD) and chief executive officer (CEO) Rajesh Mokashi and chairman SB Mainak to explain why they should not be debarred from holding key managerial positions of market intermediaries and listed companies.

The move follows the forensic audit report of EY submitted to the regulator on February 11.

The report had found that the