{"id":370645,"date":"2020-08-29T11:02:39","date_gmt":"2020-08-29T05:32:39","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=370645"},"modified":"2020-08-29T11:02:39","modified_gmt":"2020-08-29T05:32:39","slug":"murugappa-group-set-to-win-swiss-challenge-for-cg-power-after-no-fresh-bids-say-sources","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/murugappa-group-set-to-win-swiss-challenge-for-cg-power-after-no-fresh-bids-say-sources\/","title":{"rendered":"Murugappa Group set to win Swiss challenge for CG Power after no fresh bids, say sources"},"content":{"rendered":"<p>New Delhi: Exactly a year after founder Gautam Thapar was sacked as its chairman, CG Power and Industrial Solutions Ltd NSE 4.91 % is set to get a new promoter in Murugappa Group after its offer to invest Rs 700 crore in the fraud-hit firm found no challenger. Chennai-based Murugappa Group firm Tube Investments of India Ltd (TIIL) had earlier this month offered to invest Rs 700 crore in CG Power and Industrial Solutions Ltd for a 56.6 per cent stake.<\/p>\n<p>Lenders to CG Power, which had defaulted on loan repayments since the fraud was detected in the firm last year, launched a so-called Swiss challenge to explore if any other eligible investor was willing to better the Murugappa&#8217;s offer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi: Exactly a year after founder Gautam Thapar was sacked as its chairman, CG Power and Industrial Solutions Ltd NSE 4.91 % is set to get a new promoter in Murugappa Group after its offer to invest Rs 700 crore in the fraud-hit firm found no challenger. Chennai-based Murugappa Group firm Tube Investments of India Ltd (TIIL) had earlier this month offered to invest Rs 700 crore in CG Power and Industrial Solutions Ltd for a 56.6 per cent stake. Lenders to CG Power, which had defaulted on loan repayments since the fraud was detected in the firm last [&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-370645","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\/370645","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=370645"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/370645\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=370645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=370645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=370645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}