Surprises continue at ICRA – N Sivaraman, MD & CEO, who had joined ICRA just a year back in July 2020, has resigned with immediate effect citing personal reasons.
He had joined ICRA from IL&FS, where he was Chief Operating Officer with responsibilities for asset monetisation, creditor engagement and loan restructuring. It’s worth noting here that ICRA had been a spot of bother because of ILFS only – in July 2019 the Company had sent it’s longest serving MD & CEO Naresh Takkar on leave and later in August 2019 terminated his services due to some controversy about ILFS ratings.
ICRA has immediately appointed Ramnath Krishnan as the new MD and CEO. He as well had joined ICRA in July 2020 as President – Ratings and Chief Ratings Officer. He had joined from RBL where he was the Chief Risk Officer and before that had spent almost 19 yrs with HSBC in various roles.