Shares of rating agency Icra tumbled over 6 percent Tuesday after the company decided to send its managing director and chief executive Naresh Takkar on forced leave, pending an enquiry into the "concerns" raised by capital markets watchdog Sebi. The scrip declined 6.41 percent to Rs 3,012 on the BSE. At NSE, shares tanked 5 percent to Rs 3,000.05. The agency has appointed chief financial officer Vipul Agarwal as the interim CEO who will be reporting to the board, according to a company filing on Monday. Action against Takkar has been taken "pending enquiry into the concerns raised in an anonymous representation, that was forwarded to the company by the Securities and Exchange Board of India", said the agency.

Source: dna July 02, 2019 17:26 UTC