Page 3 - Cg Power

CG Power lenders agree for loan recast, pave way for Murugappa takeover

CG Power and Murugappa Group firm Tube Investments of India Ltd, said lenders have accepted one-time settlement and restructuring of debt.

CG Power net profit at Rs 109 cr in Sept quarter, total income at Rs 673 cr

The company had suffered a net loss of Rs 1,595.21 crore in the corresponding period of the previous financial year, according to a BSE filing

CG Power shareholders vote to declassify Gautam Thapar as promoter

Within days of the unearthing of the fraud involving siphoning off money raised using company assets as collateral, Thapar was removed by the company board on August 29, 2019

Tube Investments gets board nod to infuse another Rs 100 cr in CG Power

The firm has already committed Rs 700 crore to CG Power

KKR India sells CG Power shares worth Rs 30 cr through open market ops

KKR India Financial Services sold 96,10,588 shares of the company at an average price of Rs 16.85 apiece on the NSE, as per the bulk deal data

Minority shareholding shuffle seen at CG Power; Blue Diamond picks 7% stake

The bulk sale deals in the company scrip seen in the last one week included KKR, Vistra ITCL India and L&T Finance

CG Power: Investors should keep an eye on progress in deal completion

A strong partner should help business growth; further gains hinge on pricing, deal completion

Street sees CG Power's acquisition by Tube Investments as a win-win deal

A stronger partner will help business growth; further gains for the stock hinges on pricing and deal completion

CG Power acquisition likely to double revenues of Tube Investments

But turnaround could stretch its finances in short term

Murugappa Group's Tube Investments buys controlling stake in CG Power

The two companies entered into an agreement for issuance and allotment of equity shares and warrants totalling to Rs 700 crore on Friday

YES Bank board may take a call on Monday to raise Rs 10,000 cr via FPO

The bank is likely to file for its offer document soon after the board clears the fundraising plan.

YES Bank acquires 24.19% stake in Dish TV through pledged shares

The bank's move to pick up a stake in Dish TV comes following an invocation of pledged shares to the tune of 445.3 mn in the firm, the lender said in a filing to the stock exchanges late on Friday.

Sebi refuses to lift capital market ban on CG Power, Gautam Thapar

Besides Thapar, the other officials banned are CG Power's former Chief Financial Officer V R Venkatesh and former directors Madhav Acharya and B Hariharan

YES Bank stock crash and financial mess: How the crisis unfolded in 2 years

Companies that failed to repay their loans to YES Bank include Dewan Housing Finance, Essel group, CG Power, the Anil Ambani group companies, and Videocon

NCLT allows MCA's plea to reopen CG Power's accounts from FY15 to FY19

The National Company Law Tribunal (NCLT) on Thursday allowed a government petition seeking to reopen CG Power and Industrial Solutions accounts from 2014-15 to 2018-19. The corporate affairs ministry had filed an application in the NCLT seeking the appointment of an independent auditor to reopen the accounts of CG Power & Industrial Solution from 2014-15 to 2018-19. The ministry in its prayer had said the reopening of the books of accounts is needed to bring out the truth in the larger public interest. The Mumbai-bench -- comprising members Bhaskara Pantula Mohan and Rajesh Sharma -- in its order also directed the government not to rely on the report by Vaish Associates, and asked them to conduct a separate investigation. The tribunal also denied CG Power & Industrial Solution founder Gautam Thapar's plea to grant stay on the order. Earlier in January, the NCLT had quashed the audit report submitted by Vaish Associates, terming it bogus. Thapar was sacked based on this report,

CG Power's board battle led to value destruction for shareholders: Report

The research also said that KKR India may have had a role in the unfolding of events at CG Power, since the private equity investor had debt exposure to the holding company Avantha Holdings

CG Power's boardroom battle has destroyed value for shareholders: InGovern

According to Thapar, the events at CG Power have been orchestrated by the lenders

Rathin Roy among three new independent directors in CG Power board

The other two are former Tupperware MD Pradeep Mathur and former IAS officer Aditi Raja

CG Power consolidated loss widens to nearly Rs 1,600 cr in Sept quarter

Total income of the company fell to Rs 1,548.50 crore in the second quarter of this fiscal from Rs 2,115.27 crore year ago, according to a BSE filing

Coffee Day, CG Power hit 5% lower circuit as BSE, NSE to suspend trading

The exchanges said these firms have not submitted the financial results for June 2019 and September 2019 quarter and/or not paid the fine amount levied for the non-compliance.