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

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