Vijay Kirloskar threatens to move CVC in TD Power IPO disclosure matter

The rift at TD Power Systems (TDPS) has escalated, with founder Vijay Kirloskar threatening to move the Central Vigilance Commission (CVC) over alleged lapses in disclosure in the 2011 initial public offering (IPO) prospectus of the Bengaluru-based electrical equipment-maker.

Earlier this month, governance firm InGovern Research Services wrote a letter to market regulator Securities and Exchange Board of India (Sebi) and stock exchanges urging them to probe any misstatement and vital suppression of facts in the IPO document of TDPS in public interest.