Having taken a Rs 3,000 crore beating due to a large scale fraud allegedly perpetrated by its promoter and top management recently, power plant equipment maker CG Power and Industrial Solutions is now seeking a way to bounce back.
The company’s Board of Directors has called its annual general meeting on December 14, and notices sent to shareholders reveal that the company plans to seek their nod to raise as much as Rs 5,000 crore to power its recovery.
