CG Power plans to re-examine accounts of previous three years

MUMBAI: CG Power and Industrial Solutions, which has ousted its chairman over allegations of financial irregularities, plans to re-examine its accounts over the past three fiscal years to ascertain whether similar transactions may have escaped detection after an internal probe into current performance revealed nine such deals.

A recent investigation by the company revealed that the nine wrongful transactions caused the company to lose around.`3,000 crore. ET was the first to report this. CG Power said that FY19 financial statements are stated not to reflect true and fair view, and that the statutory auditors have expressed their inability to express an opinion on such financial statements.