On November 26, 2020, CG Power got an entirely new set of Directors and the previous Board members all resigned. Tube Investments, holding 58.58 per cent shareholding after infusing fresh capital has taken charge of CG Power. CG Power is a leader in industrial and power equipment such as motors, transformers, and switchgear. Tube Investments is part of the Murugappa group with diverse business interests. CG Power had on November 21 announced a debt restructuring plan where lenders had agreed to a deferred payment schedule and a sale of non-core assets, including the CG House in Worli, Mumbai.
