After removing founder Gautam Thapar as chairman of the company, the board of fraud-hit CG Power and Industrial Solutions has sacked the firm’s CFO V R Venkatesh over alleged “misconduct” and breach of trust.
The board of the company at its meeting on Friday “terminated the employment of V R Venkatesh as the Chief Financial Officer of the company, for cause, with immediate effect,” CG Power said in a regulatory filing.
“The termination of the employment of Venkatesh is due to the grave nature of the misconduct and breach of trust on his part and having knowingly undertaken actions which were detrimental to the interests of the company and its stakeholders,” it said.
