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Sebi asked to reply to Mokashi’s plea
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CARE Ratings’ chief, Rajesh Mokashi. Mokashi in his plea before the tribunal challenged Sebi’s 20 April order for barring him from engaging with any Sebi-registered intermediaries for two years.
A bench led by Justice Tarun Agarwala stated that an interim relief could not be granted at this stage and posted the matter for final hearing on 17 August. Following an investigation into whistleblower complaints since 2018, Sebi said in April that Mokashi had violated the credit rating agency regulations.
It was also revealed that he along with non-executive chairman of CARE Ratings S.B. Mainak, interfered with the ratings process and granted AAA ratings to clients who paid higher fees.
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