CARE Ratings drops 8% as Chairman Mainak steps down after forensic probe

Jannie Delucca

Treatment Scores slipped just about eight per cent on Thursday, right after experiences advised that S B Mainak, chairman, Treatment Scores has tendered his resignation.

Sector regulator Securities and Trade Board of India (Sebi) is stated to have nudged the ranking agency to eliminate Mainak right after adverse conclusions versus him in a forensic report.

“Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Rules 2015, please be knowledgeable that due to own motives Shri. S B Mainak, Chairman & Independent Director of the Organization has tendered his resignation with result from February eleven, 2020,” the company stated in a regulatory filing to the BSE. Examine IT Here

This is the second setback for the ranking agency in as lots of months. Earlier in December 2019, the company’s managing director and main government officer (MD & CEO) Rajesh Mokashi had stepped down subsequent whistle blower criticism alleging management interference in scores of sure organizations, together with IL&FS. Additional Information Here

At 10:10am, the stock was investing seven.five per cent reduce at Rs 538 ranges on the BSE. In comparison, the S&P BSE Sensex was investing .3 per cent reduce at forty one,456 ranges.

Next Post

IRCTC jumps 12.5% on strong Q3 nos; Co announces interim dividend of Rs 10

Indian Railway Catering and Tourism Corporation (IRCTC), the just lately-shown on the web ticketing, tourism and the catering arm of railways, jumped more than 12 for each cent on Thursday, a working day after the corporation posted robust established of quantities for the quarter ended December 31, 2019. At 09:28 […]