{"id":291710,"date":"2019-09-16T06:08:38","date_gmt":"2019-09-16T06:08:38","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=291710"},"modified":"2019-09-16T06:08:38","modified_gmt":"2019-09-16T06:08:38","slug":"ousted-chairman-of-cg-power-gautam-thapar-seeks-reelection-to-cg-board","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ousted-chairman-of-cg-power-gautam-thapar-seeks-reelection-to-cg-board\/","title":{"rendered":"Ousted chairman of CG Power, Gautam Thapar seeks reelection to CG board"},"content":{"rendered":"<p>MUMBAI: Gautam Thapar, ousted chairman of CG Power, has sought reelection to the board at the annual general meeting (AGM). His term as director comes to an end this month. The board, on the other hand, is seeking to reconstitute itself with more independent members, and \u201cquickly get the company back on its feet,\u201d an executive close to the board told ET.<\/p>\n<p>CG Power is starved of funds and it\u2019s estimated that the balance sheet will take a hit of Rs 3,000 crore in the form of understated loans and advances that may have to be written off. \u201cWe are taking urgent measures and looking at multiple options so it (the company) does not have to\u201d undergo resolution under Insolvency and Bankruptcy Code (IBC), said people with knowledge of the matter. Thapar, ousted by the board over alleged diversion of assets without approval, has denied all accusations of wrongdoing and plans legal action against the move.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: Gautam Thapar, ousted chairman of CG Power, has sought reelection to the board at the annual general meeting (AGM). His term as director comes to an end this month. The board, on the other hand, is seeking to reconstitute itself with more independent members, and \u201cquickly get the company back on its feet,\u201d an executive close to the board told ET. CG Power is starved of funds and it\u2019s estimated that the balance sheet will take a hit of Rs 3,000 crore in the form of understated loans and advances that may have to be written off. \u201cWe are [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,239,136],"tags":[],"class_list":["post-291710","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/291710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=291710"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/291710\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=291710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=291710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=291710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}