ICRA sacks MD and group CEO Naresh Takkar; stock down 3%

ICRA remains committed to ensuring the independence and integrity of its rating process and sound corporate governance, the company added.

Aug 30, 2019 03:08 IST India Infoline News Service

ICRA said in the press note on Thursday that the company has sacked its CEO Naresh Takkar after sending him on leave in July this year.

The Board of Directors of ICRA Limited after due consideration and taking into account the best interests of the Company and its various stakeholders have decided to terminate the employment of Naresh Takkar as Managing Director and Group CEO of ICRA, effective immediately, the company said in the filing.

The ICRA Board will commence a search for a replacement.

Vipul Agarwal, who was appointed Interim COO on July 1, 2019, remains responsible for the day-to-day operation of the Company until a CEO is appointed.

ICRA remains committed to ensuring the independence and integrity of its rating process and sound corporate governance, the company added.

ICRA Ltd is currently trading at Rs2,695.95 down by Rs104.05 or 3.72% from its previous closing of Rs2,800 on the BSE.
The scrip opened at Rs2,702 and has touched a high and low of Rs2,702 and Rs2,661.10 respectively. So far 323 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs2,702.34cr.

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