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An Indian Ratings Firm’s CEO Placed on Leave After Anonymous Complaint

  • Action follows complaint received by market regulator
  • Care Rating appoints interim chief executive officer
Updated on

Care Ratings Ltd. has put its chief on leave pending a probe into an anonymous complaint received by the nation’s markets regulator, adding to the troubles for India’s credit assessment industry.

Care’s board placed Chief Executive Officer Rajesh Mokashi on leave, the company said in an exchange filing Wednesday evening. Earlier this month, the local unit of Moody’s Investors Service sent its managing director on leave amid an inquiry into a controversial rating decision.