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Murugappa Group takes over CG Power, appoints directors

CG Power said its entire board including non-executive chairman Ashish Guha and whole-time executive director Sudhir Mathur have resigned. NEW DELHI: Chennai-based Murugappa Group on Thursday took over scam-hit CG Power and Industrial Solutions, infusing Rs 700 crore into the company and appointing directors on its board. CG Power in a stock exchange filing said […]

Power Engineers Body Condemns Move to Amend National Electricity Policy

CG Power board okays Rs 100 cr additional infusion by Tube Investment

Murugappa-Group led Tube Investments which will take up control of the company, has offered additional investment to help the company meet its liabilities, stabilising its operations and improving its liquidity position Mumbai: The Board of CG Power and Industrial Solutions has approved the offer of additional investment of Rs 100 crore by Tube Investments. In […]

Power Engineers Body Condemns Move to Amend National Electricity Policy

CG Power board sacks Gautam Thapar as its chairman with immediate effect

On August 20, the company had stated that an investigation instituted by its board had found major governance and financial lapses in the company NEW DELHI: CG Power & Industrial Solutions on Thursday said its board has sacked Gautam Thapar as its chairman with immediate effect after an investigation that unearthed a multi-crore financial scam […]

Power Engineers Body Condemns Move to Amend National Electricity Policy

Investors, lenders want tycoon Gautam Thapar removed as Chairman of CG Power

The company had in a regulatory filing on August 20 stated that an investigation instituted by its board had found major governance and financial lapses New Delhi: Investors and lenders of power equipment maker CG Power & Industrial Solutions Ltd want tycoon Gautam Thapar to be removed as chairman of the company after an investigation […]

Power Engineers Body Condemns Move to Amend National Electricity Policy

CG Power bags contract for 400-MW wind farm in Saudi Arabia

With an installed capacity of 400 megawatt, Dumat Al Jandal will be Saudi Arabia’s first large-scale onshore wind farm and the largest so far in the Middle East Mumbai: CG Power and Industrial Solutions Ltd has bagged a contract valued at 12.5 million euros (about Rs 96 crore) for high-voltage substations that will connect the […]

Israeli Farms Become Test Ground for Solar Energy Project