The Securities and Exchange Board of India (Sebi) has barred Rajesh Mokashi, former MD & CEO of Care Ratings, from being associated with any of the regulator-registered intermediaries for a period of two years. As per the market regulator, his association is banned both directly and indirectly in any manner.
This is not the first time that Sebi has taken action against Mokashi. Back in 2020, Sebi moved to bar Mokashi and chairman SB Mainak after a finding revealed that they had interfered with the ratings of instruments issued by Infrastructure Leasing and Financial Services Ltd (IL&FS).
Sebi had sent show cause notices to the two former CARE executives back then.
In December 2019, Rajesh Mokashi was forced to step down as CEO and MD of Care Ratings, five months after he was sent on forced leave. This came after Sebi received an anonymous complaint alleging that rating decisions were influenced by the management.
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First Published: Apr 20, 2023 5:37 PM IST
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