Sebi refuses to lift capital market ban on CG Power, Gautam Thapar

Regulator Sebi on Wednesday refused to lift the capital market ban imposed on fraud-hit CG Power and Industrial Solutions’ ex-chairman Gautam Thapar and three other former officials in a case related to diversion of funds.

Besides Thapar, the other officials banned are CG Power’s former Chief Financial Officer V R Venkatesh and former directors Madhav Acharya and B Hariharan.

However, they have been allowed to liquidate up to 25 per cent of the value of the securities held by them.