CARE Ratings on Thursday said its Chairman SB Mainak has resigned.
"...due to personal reasons S B Mainak, Chairman and Independent Director of the Company, has tendered his resignation with effect from February 11, 2020," it said in a regulatory filing.
SEBI is understood to have asked the rating agency for his removal in the IL&FS case.
CARE Ratings scrip was down 7.29 per cent in intra day trade on BSE.