{"id":337172,"date":"2020-02-13T10:30:37","date_gmt":"2020-02-13T05:00:37","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=337172"},"modified":"2020-02-13T10:51:19","modified_gmt":"2020-02-13T05:21:19","slug":"mainak-resigns-as-care-ratings-chief-after-sebi-asks-for-his-removal","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/mainak-resigns-as-care-ratings-chief-after-sebi-asks-for-his-removal\/","title":{"rendered":"Mainak resigns as CARE Ratings chief after Sebi asks for his removal"},"content":{"rendered":"<p>S B Mainak has resigned as chairman of CARE Ratings, the company said in a stock exchange notification after the market regulator reportedly asked for his removal. <\/p>\n<p>The Securities and Exchange Board of India (Sebi) nudged the rating agency after a forensic report said Mainak had asked his staff to not change the ratings of Infrastructure Leasing and Financial Services (IL&amp;FS), the bankrupt shadow banker, the Economic Times reported on Thursday. <\/p>\n<p>Consultancy firm EY earlier this week gave Sebi a report recording employee statements, WhatsApp messages and call recordings of CARE employees. <\/p>\n<p>Mainak, a former managing director of Life Insurance Corporation, was an independent director and chairman of CARE Ratings. In December, CARE\u2019s managing director and chief executive officer (MD &amp; CEO) Rajesh Mokashi resigned after a whistleblower complaint alleged management interference in ratings of companies, including IL&amp;FS.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S B Mainak has resigned as chairman of CARE Ratings, the company said in a stock exchange notification after the market regulator reportedly asked for his removal. The Securities and Exchange Board of India (Sebi) nudged the rating agency after a forensic report said Mainak had asked his staff to not change the ratings of Infrastructure Leasing and Financial Services (IL&amp;FS), the bankrupt shadow banker, the Economic Times reported on Thursday. Consultancy firm EY earlier this week gave Sebi a report recording employee statements, WhatsApp messages and call recordings of CARE employees. Mainak, a former managing director of Life Insurance [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,168],"tags":[],"class_list":["post-337172","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-roads-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/337172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=337172"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/337172\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=337172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=337172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=337172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}