The capex plan would be utilised to improve production at its manufacturing facilities, CG Power and Industrial Solutions said in a statement. New Delhi: CG Power and Industrial Solutions, acquired by the Tube Investments of India group company of Murugappa Group last year, has chalked out capital expenditure plans of Rs 135 crore during the […]
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 […]
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 […]
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 […]
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 […]
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 […]
