File photograph of Rajesh Mokashi
| Photo Credit: PAUL NORONHA
India’s market regulator on Thursday barred the previous chief govt of Care Ratings Ltd. from the securities market for two years for violation of guidelines.
The Securities and Exchange Board of India (SEBI), in its order, mentioned that Rajesh Mokashi, the previous managing director and chief govt of Care, interfered within the score committee choice whereas it rated devices issued by Yes Bank, Dewan Housing and Finance Ltd , now referred to as Piramal Capital and Housing Finance Ltd, and Infrastructure and Financial Services Ltd, a unit of Infrastructure Leasing & Financial Services Ltd.
The regulator mentioned that Mr. Mokashi was solely “paying performative obeisance” to the regulatory mandate by not being half of the score committees however was nonetheless interfering in score choices. The regulation doesn’t allow the administration of a score agency to be half of the score committee.
Mr. Mokashi can’t be a component of any market middleman for two years, SEBI dominated.
