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CG POWER FRAUD
Lenders of CG Power negotiate with Murugappa Group to further raise the bid amountIf concluded, the deal will likely give Murugappa at least 70% of the debt-laden company.02 Aug, 2020, 07.05 PM IST- Fund crunch delays Board-commissioned investigation into book-rigging charges at CG PowerIn December last year, the Serious Fraud Investigation Office under the ministry of corporate affairs initiated a probe into 16 group entit...27 Jul, 2020, 03.18 PM IST
- Murugappa Group eyes CG Power, ready to invest Rs 750 croreThe transaction is likely to conclude in July, they said.01 Jul, 2020, 04.24 PM IST
- TVS, special situation funds in talks to infuse Rs 500 crore in CG PowerThe board of CG Power and Industrial Solutions removed its founder chairman Gautam Thapar last August amid pressure from investors and lend...24 Mar, 2020, 07.14 AM IST
- Bankers agree to give a line of credit to CG Power, says chiefWhile investigations by regulators will continue in parallel, the lenders have been supportive to get the company out of the woods, Guha sa...20 Mar, 2020, 02.24 PM IST
- NCLT allows Corporate Affairs Ministry's plea to reopen CG Power's accountsThe Mumbai-bench -- comprising members Bhaskara Pantula Mohan and Rajesh Sharma -- in its order also directed the government not to rely on...06 Mar, 2020, 09.49 AM IST
- CG Power inducts 3 independent directors including former Tupperware India head Pradeep MathurThe company said that these new additions emphasise that India and the subcontinent are key markets for CG Power. The company said it aims ...10 Feb, 2020, 09.59 PM IST
- Gautam Thapar denies wrongdoing, blames vested interests for woesThapar lost control of his flagship business to a private equity investor and his mortgaged home in Delhi to a private bank. “From day one,...09 Jan, 2020, 06.56 AM IST
- CG Power looking to hive off, sell its overseas assetsThe manufacturer of power and distribution transformers is valuing its global assets at around $250 million. “CG Power has held talks with ...26 Dec, 2019, 06.40 AM IST
- CG Power lenders hire audit company BDO to monitor fund flowsLenders are reluctant to give fresh loans to the company hit by allegations of corporate governance violations and fraud. They are nervous ...28 Nov, 2019, 06.41 AM IST
- Sebi asks CG Power to provide Thapar, others documents sought on fraud in firmSEBI in its order to CG Power's company secretary Shikha Kapadia stated that the next date of hearing that was scheduled for December 6 has...26 Nov, 2019, 08.27 PM IST
- MCA wants accounts of fraud-hit CG Power to be restatedSources said MCA has filed a petition before the Mumbai-bench of the National Company Law Tribunal (NCLT) seeking permission to re-open the...23 Nov, 2019, 03.27 PM IST
- CG Power jumps 5% as CEO resigns from all subsidiary positionsLate last month, the board of CG Power removed its founder Gautam Thapar as chairman.11 Sep, 2019, 10.18 AM IST
- Fraud-hit CG Power CEO Neelkant resigns from subsidiariesNeelkant confirmed resigning from the subsidiaries but said he believed that investors and lenders would not want him to step down from CG ...10 Sep, 2019, 05.39 PM IST
- CG Power may move Enforcement Directorate against Avantha Group promoter Gautam ThaparBoard may file PMLA complaint, hopes lookout notice will stop Thapar from fleeing country.30 Aug, 2019, 11.38 PM IST
- Board-ordered probe finds financial lapses at CG PowerThe allegations came to light after the board of the company disclosed the findings of the investigations to stock exchanges.21 Aug, 2019, 08.23 AM IST
- ‘Suspect’ transactions detected at Gautam Thapar’s CG Power; stock tanks 20%. YES Bank suffers collateral damageFraud at CG Power was purportedly carried out by employees for over 2 years.20 Aug, 2019, 12.33 PM IST
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