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| Exchange Received Time 14/02/2020 20:23:29 Exchange Disseminated Time 14/02/2020 20:23:36 Time Taken 00:00:07 | The Board of CARE Ratings Ltd. in its meeting today has considered the report of the forensic audit and it has decided to terminate the employment of Mr. Rajesh Mokashi as MD & CEO of CARE Ratings Ltd, with effect from the date he was placed on leave i.e. 16th July 2019.
The Board, as advised by SEBI, vide its letter dated 12th February 2020 (received today), has decided to institute an inquiry in the matter of interference by officials of CARE including the erstwhile Chairman and the erstwhile MD & CEO in the rating process in the last 3 years. The copy of the letter is enclosed.
The Board has already initiated the process of appointing MD & CEO of CARE Ratings Ltd.
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