The board of troubled CG Power and Industrial Solutions has sacked Chief Financial Officer VR Venkatesh for his role in the financial irregularities and has commissioned a forensic investigation to look into the matter.
The board of the company took the decision late Friday night, citing “grave misconduct and breach of trust” by CFO. A day before that businessman Gautam Thapar was sacked as the chairman of CG Power and Industrial Solutions, formerly known as Crompton Greaves, by the company’s board that was under pressure from investors and lenders to remove him after financial and corporate governance irregularities came into fore.
