Care Ratings CEO sent on leave after Sebi receives anonymous complaint

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 on 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.

India’s credit rating companies have been facing criticism for missing warning signs at the IL&FS Group, whose surprise default last year led to a crippling