ICRA Moves Forward: Mutual Settlement with Naresh Takkar Marks a Fresh Start

ICRA Ltd. has declared a mutual settlement with its erstwhile Managing Director and Group CEO, Naresh Takkar, as a major development in the company's leadership change. The deal follows the termination of Takkar's employment after SEBI raised concerns over ICRA's ratings for Infrastructure Leasing & Financial Services (IL&FS).

 

Key Highlights:

 

Mutual Settlement: ICRA and Naresh Takkar have come to a final settlement, which puts an end to the litigations due to his termination.

 

Transition of Leadership: Vipul Agarwal remains the interim chief operating officer, managing day-to-day activities until a new CEO is in place.

 

Regulatory Environment: The settlement demonstrates ICRA's intentions to deal with regulatory issues and ensure transparency in its activities.

 

Future Prospects: The deal opens the way for ICRA to concentrate on its strategic growth initiatives and solidify its presence in the credit rating industry.

 

This amicable settlement reflects ICRA's willingness to settle internal differences and begin afresh with a renewed focus on its core business.

 

Source: Business Standard, The Economic Times, Moneycontrol