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CG SCAM
10 tips for avoiding online scamsHow to shop smart and spot scams? Here are some clues to watch for.- CBI files fresh case against Gautam Thapar, othersThe new case pertains to a complaint filed by State Bank of India against CG Power & Industrial Solutions and others, including its then CE...
- Loan default case: CBI conducts searches in Mumbai, Delhi against Avantha Group promoter Gautam ThaparEarlier this month, the federal agency had booked Thapar, two private companies based at Delhi and Gurugram and their promoters and directo...
- CG Power starts operations at smart motor unit at AhmednagarThe new facility will manufacture low voltage smart electric motors of capacity in the range of 75 kW to 1,000 kW and expand the company's ...
- Murugappa Group takes over CG Power, appoints directorsCG Power said its entire board including non-executive chairman Ashish Guha and whole-time executive director Sudhir Mathur have resigned.
- Stocks in the news: IndusInd Bank, Vodafone Idea, Majesco, LVB, Relaxo, Mphasis and Prestige EstatesInsurance technology firm Majesco has announced a share buyback plan of up to Rs 631.26 crore.
- 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...
- Lots of unanswered questions ahead of CG Power AGMThe Murugappa Group's Tube Investments of India which has taken over the company has invested nearly Rs 800 crore to turnaround the scam hi...
- Murugappa Group to invest Rs 700 crore in CG PowerThis process allows other potential suitors to make a counteroffer, after which the first investor, in this case Tube Investment, will have...
- 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.
- Murugappa Group eyes CG Power, ready to invest Rs 750 croreThe transaction is likely to conclude in July, they said.
- For investors, this is a time to pay special attention to corporate governanceWhenever businesses and the economy falter, scams and scamsters tend to crawl out of the woodwork. Therefore, businesses having promoters e...
- Big 4 audit companies scramble for forensic assignments of scam-hit corporatesPlayers see up to 25% growth in forensic business in past 3 years even as strict regulatory action hits audit operations.
- CG Power to put its Worli head office up for saleThe company, which is dealing with muted cash flows and huge debt, will monetise assets like head office building ‘CG House’ and is also wo...
- 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 ...
- Gautam Thapar takes legal action against CG Power boardThe financial damage to CG’s balance sheet is now estimated to be in excess of Rs 3,000 crore.
- After Market: Paint stocks@52-week highs; LVB, Amara Raja crackWith a fall of 2.69 per cent, HDFC contributed 100 points fall in the Sensex.
- CG Power hits upper circuit after board sacks chairman Gautam ThaparAn investigation had found major governance and financial lapses.
- Investors, lenders want tycoon Gautam Thapar removed as Chairman of CG PowerWhile no one has been named yet, the investigation has found strong links to the present management.
- After Market: Jet falls for second day, 96 stocks ready to riseBSE Midcap and Smallcap indices closed 0.27 per cent and 0.50 per cent lower, respectively.
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