MCA orders probe against CG Power, inspection report to be ready soon

The office of the MCA's regional director, western region, is in charge of the probe

CG Power and Industrial Solutions is under the lens of the Ministry of Corporate Affairs (MCA), which has ordered an inspection into the affairs of the company, said a senior government official. 

The probe was triggered after auditors of the power equipment maker resigned a few months ago.

“The inspection report will be ready soon and appropriate action will be taken,” the senior government official added.

After convening a board meeting that ran into the wee hours of the morning, the company announced that it will restate earnings after discovering “suspect, unauthorised and undisclosed” transactions.

The office of the MCA’s