CG Power & Industrial Solutions Ltd (CG Power) has sacked Gautam Thapar as the chairman of the company after an investigation unearthed a multi-crore scam in the company.
In a regulatory filing to the stock exchanges, CG Power, which provides end-to-end solutions to companies in the power sector, said its board of directors, through a circular resolution, resolved to remove Thapar as the chairman with immediate effect.
The company added that the decision was passed by majority consent. It is learnt that Thapar opposed the resolution, while CEO and managing director K. N. Neelkant abstained from voting.
