{"id":294792,"date":"2019-10-03T11:36:24","date_gmt":"2019-10-03T06:06:24","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=294792"},"modified":"2019-10-03T11:36:24","modified_gmt":"2019-10-03T06:06:24","slug":"cg-power-board-moves-to-remove-avantha-holdings-as-promoter","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/cg-power-board-moves-to-remove-avantha-holdings-as-promoter\/","title":{"rendered":"CG Power board moves to remove Avantha Holdings as promoter"},"content":{"rendered":"<p>Mumbai: The board of CG Power &amp; Industrial Solutions (CG) has initiated the process to remove the Gautam Thapar-led Avantha Holdings, now owning an insignificant stake, as the company\u2019s promoter in the wake of its alleged role in financial irregularities at the power-equipment maker.<\/p>\n<p>The promoter entities together hold only 8,574 shares in the loss-making CG, which may have lost Rs 3,000 crore due to alleged financial irregularities involving nine transactions.<\/p>\n<p>\u201cThe board cannot de-classify a promoter. It has to be done by the regulator. The board has taken legal advice and would be soon approaching Sebi on this,\u201d a CG spokesperson told ET.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai: The board of CG Power &amp; Industrial Solutions (CG) has initiated the process to remove the Gautam Thapar-led Avantha Holdings, now owning an insignificant stake, as the company\u2019s promoter in the wake of its alleged role in financial irregularities at the power-equipment maker. The promoter entities together hold only 8,574 shares in the loss-making CG, which may have lost Rs 3,000 crore due to alleged financial irregularities involving nine transactions. \u201cThe board cannot de-classify a promoter. It has to be done by the regulator. The board has taken legal advice and would be soon approaching Sebi on this,\u201d a [&hellip;]<\/p>\n","protected":false},"author":44,"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-294792","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\/294792","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=294792"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/294792\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=294792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=294792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=294792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}