 "power distribution, electricity, electricity transmission")
The chairman’s message on the website of Hindustan Powerprojects (earlier Moser Baer Projects) reads as follows: “Our strategy of risk-mitigated approach along with the pursuit to comply with all applicable corporate governance regulations has allowed us to ramp up our operations.” This may however, sound like a joke now, as the chairman, 42-year-old Ratul Puri, has been arrested by the enforcement directorate because of a Rs 354 crore bank fraud case filed by one of his lenders.
Though the charges are yet to be proved, they are serious enough. While declaring the Moser Baer account as fraud after a forensic audit,
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