The National Company Law Tribunal (NCLT) on Thursday allowed a government petition seeking to reopen CG Power and Industrial Solutions accounts from 2014 … Powers vested in NCLT.
Class Action: Protection of the interest of various stakeholders, especially non-promoter shareholders and depositors, has always been the concern of company law. CG Power chairman Gautam Thapar (File photo) MUMBAI: The National Company Law Tribunal (NCLT) has allowed the corporate affairs ministry to reopen the books of CG Power for the last five financial years so that it could probe the alleged fraud at the equipment manufacturer. Some of the important powers that are presently vested with NCLT are as follows: 1. CG Power's board sacked Thapar after Vaish Associates' audit report, which itself is based on as many as 23 disclaimers, claimed that Thapar swindled Rs 3,000 crore from CG Power. In a relief to CG Power & Industrial Solutions Ltd.’s sacked chairman Gautam Thapar, the National Company Law Tribunal on Thursday termed an audit report by Vaish Associates on the firm as "bogus", saying it will only rely on the report conducted independently or by a government agency in the matter. Its former Chairman Gautam Thapar was removed on 30 August after CG Power … Read more about NCLT allows MCA's plea to reopen CG Power's accounts from FY15 to FY19 on Business Standard.
Last month, the tribunal had rejected a plea from the ministry to reopen the books stating that the move was based on a report by an auditor appointed by the company itself.
Updated: 06 Mar 2020, 12:38 AM IST Jayshree P. Upadhyay. The National Company Law Tribunal (NCLT) on Thursday allowed a government petition seeking to reopen CG Power and Industrial Solutions accounts from 2014-15 to 2018-19.The corporate affairs ministry had filed an application in the NCLT seeking the
The Mumbai bench of NCLT has thrown out the findings made by law firm Vaish Associates on former CG Power Chairman Gautam Thapar, citing them as … PTI @ PTI_News. In a relief to CG Power's sacked chairman Gautam Thapar, the NCLT on Thursday termed an audit report by Vaish Associates on the firm as "bogus", saying it will only rely on the report conducted independently or by a government agency in the On Monday, the NCLT bench turned down the corporate ministry’s plea to recast the books of fraud-hit CG Power. CG Power Case: NCLT Reserves Order On Corporate Affairs Ministry’s Bid To Appoint Auditor. NCLT allows govt to reopen, recast CG Power’s accounts 1 min read. The issue relates to an investigation ordered by CG Power Board on its former Chairman Gautam Thapar, for alleged financial wrongdoing.
The Mumbai NCLT on Thursday reserved its order on a plea from the corporate affairs ministry to appoint an independent auditor to restate the accounts of CG Power & Industrial Solution. There were several frauds and improprieties that were noticed where the key losers were the shareholders and depositors. January 28, 2020 By portal The Corporate Relationship Department BSE Limited 1st … Bookmark. The ruling vindicates claims made by Thapar in … Mumbai: In a relief to CG Power's sacked chairman Gautam Thapar, the NCLT on Thursday termed an audit report by Vaish Associates on the firm as "bogus", saying it will only rely on the report conducted independently or by a government agency in the matter. The NCLT, however, was unimpressed by the submissions made by the past and present management of CG Power. CG Power and Industrial Solutions Limited Registered Office: CG House, 6th Floor, Dr Annie Besant Road, Worli, Mumbai 400 030, India T: +91 22 2423 7777 F: +91 22 2423 7733 W: www.cgglobal.com Corporate Identity Number: L99999MH1937PLC002641 Our Ref: COSEC/223/2019-20 Smart solutions.
Jan 23 2020, 9:53 PM Jan 23 2020, 9:53 PM January 23 2020, 9:53 PM January 23 2020, 9:53 PM. Read more about NCLT terms Vaish report on CG Power as 'bogus' on Business Standard. Mumbai, March 5 (SocialNews.XYZ) The National Company Law Tribunal (NCLT) has approved the Ministry of Corporate Affairs' plea to reopen the financial accounts of CG Power and Industrial Solutions for the period of 2014-15 to... - Social News XYZ NCLT allows Corporate Affairs Ministry's plea to reopen CG Power's accounts The Mumbai-bench -- comprising members Bhaskara Pantula Mohan and Rajesh Sharma -- in its order also directed the government not to rely on the report by Vaish Associates, and asked them to conduct a …
The matter pertains to a case of alleged fraud at the manufacturing company. Strong relationships.