 "CG Power stock crashes 20% after probe reveals fraudulent transactions")
The management for CG Power and Industrial Solutions (CG Power) considers any further association with its promoters as prejudicial to the company, the chairman said in a letter to shareholders. The company will hold its annual general meeting (AGM) on December 14.
In a letter to shareholders as part of the company’s AGM notice, Ashish Kumar Guha, chairman, CG Power, said, “Your company considers any further association with Gautam Thapar and the promoters as prejudicial to the interests of your company and its stakeholders.”
Guha made the above observation related to several irregular transactions that the company revealed in a findings report
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