Shares of IcraNSE -4.25 % plunged over 5 per cent in early trade on Tuesday as rating agency placed managing director Naresh Takkar on leave until further notice after the market regulator forwarded an anonymous complaint on the ratings of Infrastructure Leasing & Financial Services (IL&FS).
This marks the first such move by a credit rating agency over IL&FS, which unexpectedly defaulted on repayments in September last year, setting off a liquidity crisis for nonbanking fin ..
The scrip was trading 5.54 per cent down at Rs 3040 at around 9.20 am (IST), while the BSE Sensex was up 45 points, or 0.11 per cent, at 39,731 at around the same time.
Chief financial officer Vipul Agarwal was named interim chief operating officer.
The company said in May that it had hired an independent investigative agency to inquire into accusations of meddling in the rating of IL&FS.
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