Brief: Ousted ICRA CEO Says Board Treated Him Unfairly, IL&FS Ratings 'Regrettable' Failure

ICRA

13/09/2019 14:14

Sept 13 (Reuters) - FORMER ICRA  ICRA.NS  CEO NARESH TAKKAR
SAYS IN WRITTEN REPRESENTATION TO ICRA BOARD:
    * IL&FS GROUP RATINGS A 'HIGHLY REGRETTABLE' FAILURE
    * ICRA TEAM DID NOT FORSEE 'SUCH MALFEASANCE' BY IL&FS GROUP
    * ICRA FOLLOWED ALL REGULAR PROCESSES, PRACTICES WHILE
ASSIGNING
RATINGS TO IL&FS
    * HAD 'SERIOUS CONCERNS' ABOUT LACK OF TRANSPARENCY,
FAIRNESS,
INDEPENDENCE IN INVESTIGATION OF ANONYMOUS COMPLAINT
    * BOARD HAS TREATED TAKKAR IN 'GROSSLY UNFAIR' MANNER

Source text: (http://bit.ly/2NbOfrt)
Further company coverage:  ICRA.NS 

 ((bangalore.newsroom@thomsonreuters.com;))