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THAPAR CG POWER
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...- 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...
- CG Power shareholders vote to declassify Thapar as promoter, re-appoint Mathur as directorWithin days of the unearthing of the fraud involving siphoning off money raised using company assets as collateral, Thapar was removed by t...
- 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,...
- 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...
- 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...
- Gautam Thapar may not be able to regain CG Power controlLenders including KKR and Yes Bank have converted the pledged shares into equity.
- Gautam Thapar, Avantha file caveat in Bombay HC seeking 2-day noticeThe board of CG Power, a flagship company of Avantha Group till recently, had ousted Thapar as its chairman on August 29 for alleged accoun...
- 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.
- CG Power board moves to remove Avantha Holdings as promoterThe promoter entities together hold only 8,574 shares in the loss-making CG.
- 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.
- Ousted chairman of CG Power, Gautam Thapar seeks reelection to CG boardCG Power’s board is looking for more independent directors to work towards avoiding an IBC resolution, while Gautam Thapar wants a reentry ...
- 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.
- 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.
- 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.
- CG Power Irregularities: Gautam Thapar joins probe, rejects allegations of unauthorised dealsThapar was ousted from the chairmanship of the troubled CG Power and Industrial Solutions last week after alleged irregularities and unauth...
- MCA summons Gautam Thapar, key CG Power executivesFormer auditor asked to appear too; ministry officials inspect co’s headquarters.
- 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.
- CG Power board removes chairman Gautam ThaparDecision comes after probe flagged financial and governance issues at co; businessman denies fraud.
- 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...
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