ICRA slips 6% after it sends MD and CEO Naresh Takkar on sudden leave

Without disclosing specific reasons, the rating agency informed the stock exchanges that its board in its meeting on Monday decided to place Takkar on leave, effective immediately.

Shares of ICRA slipped nearly 6 per cent to Rs 3,027 apiece in the opening deals on Tuesday, a day after the board of rating agency asked its Managing Director (MD) and Chief Executive Officer (CEO) Naresh Takkar to go on indefinite leave, pending an enquiry into concerns raised by the market regulator the Securities and Exchange Board of India (Sebi).

At 09:28 am, the stock was trading nearly 4.50 per cent lower at Rs 3,074 on the BSE. Other rating agaencies' shares, too, were subdued in the trade. While Crisil was trading flat at Rs 1,462, up just 0.08