Standard Chartered Bank settles case with Sebi in CG Power case; pays Rs 4.97-crThe order came after Standard Chartered Bank (SCB) approached Sebi proposing to settle the case pertaining to alleged violations of PFUTP (...
25 May, 2022, 08.53 PM IST
YES Bank removes fraud tag on Avantha Holdings after forensic auditThe bank had red-flagged the account to the Reserve Bank of India (RBI) after the Thapar group company defaulted on a loan that it had obta...
18 Jun, 2021, 10.06 AM IST
MCA moves NCLT against former management of CG PowerIn 2019, the board of CG Power & Industrial Solutions had to restate its earnings after finding suspected fraudulent transactions by its ch...
10 Apr, 2021, 11.19 PM IST
CG Power lenders agree for loan restructuring, pave way for Murugappa takeoverIn separate but almost identical stock exchange filings, CG Power and Murugappa Group firm Tube Investments of India Ltd (TIIL), said lende...
22 Nov, 2020, 11.47 AM IST
Murugappa Group set to win Swiss challenge for CG Power after no fresh bids, say sourcesChennai-based Murugappa Group firm Tube Investments of India Ltd (TIIL) had earlier this month offered to invest Rs 700 crore in CG Power a...
28 Aug, 2020, 05.09 PM IST
YES Bank exits CG Power, sells over 10% stake in tranchesYes Bank has sold 6,34,00,000 equity shares having nominal value of Rs 2 each, constituting 10.12 per cent of the share capital of CG Power...
19 Aug, 2020, 11.05 PM IST
SFIO, CBI may probe three lenders to CG Power, its affiliatesThe agencies are acting on the findings of a forensic audit report and Securities and Exchange Board of India (Sebi)’s probe that highlight...
17 Aug, 2020, 06.59 AM IST
CG Power imbroglio: Gautam Thapar cites board approvals, rejects fund misuse allegationsCG Power board sacked Thapar after an audit report by Vaish Associates, which itself is based on as many as 23 disclaimers, claimed that Th...
15 Dec, 2019, 07.37 PM 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
Gautam Thapar may not be able to regain CG Power controlLenders including KKR and Yes Bank have converted the pledged shares into equity.
19 Oct, 2019, 08.38 AM IST
Banks plan to recast Rs 4,000 crore CG Power loansLenders of the fraud hit CG Power plan an easier moratorium on repayment of loans and are also considering whether the company needs emerge...
16 Oct, 2019, 06.45 AM IST
Conditional offer: Sunil Mittal company to lead efforts to revive CG PowerSBM Holdings & institutional investors looking to put in working capital and revive domestic operations.
03 Oct, 2019, 08.53 AM IST
CG Power may refuse to repay unapproved loans of its unitsLoans were given to subsidiaries without the authorisation of company directors, two persons aware of the board’s thinking told ET.
17 Sep, 2019, 11.00 PM IST
Irregular deals by brass may have led to Rs 3000 crore loss for CG Power: ReportThe cheques were issued by CG without approval from its board or risk and audit committee.
17 Sep, 2019, 11.45 AM IST
CG Power fails to get Rs 200-crore working capitalBanks are not keen to lend to CG power as govt agencies step up probe into alleged wrongdoings at the firm.
12 Sep, 2019, 08.33 PM IST
KKR, Yes Bank and BOI AXA may take control of CG PowerThe move is aimed at cleaning some of the recently reported related party issues and re-shaping the company, which otherwise has a clean tr...
15 Mar, 2019, 09.57 AM IST
CG Power stock plunges over 30% on provisions, write-offsThe stock has fallen 61 per cent in the past six months.
14 Feb, 2019, 07.39 AM IST