CARE Ratings slips 5% after MD Rajesh Mokashi sent on indefinite leave

Sebi has launched adjudication proceedings against three rating agencies ICRA, Care Ratings and India Ratings in the ratings assigned to IL&FS and its group firms.

Shares of CARE Ratings slipped up to 5 per cent on the BSE on Thurdsay after the firm sent its managing director and chief executive officer (MD & CEO) Rajesh Mokashi, on indefinite leave owing to a complaint received against him by the Securities and Exchange Board of India (Sebi). The stock was trading close to its 52-week low of Rs 851 touched on July 12, 2019 on the BSE in intra-day trade.

In a late night exchange filing, the ratings agency said that till the completion of the examination of an "anonymous complaint" received by the market regulator, the