MCA plea to reopen CG Power books likelyAccording to a person in the know, the MCA’s probe has indicated a suspicious diversion of more than Rs. 2,000 crore by certain erstwhile directors and key managerial executives.
We stand by Sterling and Wilson: Shapoor MistryWe stand by the company and each other as promoters, Mistry told. We are not moving away from our commitment to honour in full all the obligations towards the company. The promoters were scheduled to pay Rs 2,563 crore to Sterling and Wilson Solar by November 18. The promoters had repaid Rs 250 crore.
CG Power seeks up to 2 years moratorium on loan repayments“Under SBI’s leadership, once the company gets some priority funds and restoration of existing lines of credit, the operations can get to full swing,” Seshadri said. “We need to understand one thing here. This is a case of fraud on the company and not by the company. Money was taken out of a healthy company that was generating close to 300-400 cr of Ebitda.
The cat and mouse game starts in used cars’ online salesOnline ad sites are using AI and other filters to prevent stolen vehicles from getting listed on their platforms, but their efforts are only helping partially. A large number of stolen vehicles are finding their way into online classified ad platforms.