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Latest Cg Power And Industrial Solutions News

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CG Power and Industrial Solutions has completed the acquisition of G G Tronics for Rs 319 crore, the company said. In a BSE filing on Tuesday, the company said it has completed the acquisition of G G Tronics on August 20. Last month, the company entered into definitive agreements for acquisition of 55 per cent stake of GG Tronics through a combination of purchase of equity shares from GGT promoters and by way of subscription to compulsorily Convertible Preference Shares for an aggregate consideration of Rs 319.38 crore. Pursuant to the completion of the said acquisition, GG Tronics is now a subsidiary of the company with effect from August 20, 2024, it said.
Business Standard

Business Standard

CG Power and Industrial completes acquisition of G G Tronics for Rs 319 cr

CG Power and Industrial Solutions has completed the acquisition of G G Tronics for Rs 319 crore, the company said. In a BSE filing on Tuesday, the company said it has completed the acquisition of G G Tronics on August 20. Last month, the company entered into definitive agreements for acquisition of 55 per cent stake of GG Tronics through a combination of purchase of equity shares from GGT promoters and by way of subscription to compulsorily Convertible Preference Shares for an aggregate consideration of Rs 319.38 crore. Pursuant to the completion of the said acquisition, GG Tronics is now a subsidiary of the company with effect from August 20, 2024, it said.

Power

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Tue, Aug 20, 2024

Land assets worth more than Rs 678 crore of the Avantha Group have been attached under the anti-money laundering law as part of an alleged bank loan fraud linked probe, the Enforcement Directorate said Thursday. A provisional order under the Prevention of Money Laundering Act (PMLA) has been issued to attach the properties located in Haryana, Maharashtra and Uttarakhand. The assets belong to various group companies of Avantha Group, "owned and controlled" by businessman Gautam Thapar. "On 19.08.2019, CG Power and Industrial Solutions Ltd had made disclosure under Regulation 30 of the SEBI (listing obligations and disclosure requirements) Regulations, 2015 to Bombay Stock Exchange and National Stock Exchange regarding findings which had potential implications on the financial position of the company. "The disclosure made by CG Power and Industrial Solutions Ltd. revealed that assets and liabilities of the company have been understated considerably," the ED said in a statement. It w
Business Standard

Business Standard

Bank fraud: ED attaches Rs 678 cr worth land assets of Avantha Group

Land assets worth more than Rs 678 crore of the Avantha Group have been attached under the anti-money laundering law as part of an alleged bank loan fraud linked probe, the Enforcement Directorate said Thursday. A provisional order under the Prevention of Money Laundering Act (PMLA) has been issued to attach the properties located in Haryana, Maharashtra and Uttarakhand. The assets belong to various group companies of Avantha Group, "owned and controlled" by businessman Gautam Thapar. "On 19.08.2019, CG Power and Industrial Solutions Ltd had made disclosure under Regulation 30 of the SEBI (listing obligations and disclosure requirements) Regulations, 2015 to Bombay Stock Exchange and National Stock Exchange regarding findings which had potential implications on the financial position of the company. "The disclosure made by CG Power and Industrial Solutions Ltd. revealed that assets and liabilities of the company have been understated considerably," the ED said in a statement. It w

Power

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Thu, Aug 15, 2024

Here is what the charts say about the shares of CG Power and Industrial Solutions, Mangalore Refinery & Petrochemicals and Vardhman Textiles
Business Line

Business Line

Movers & Shakers: Stocks that will see action this week

Here is what the charts say about the shares of CG Power and Industrial Solutions, Mangalore Refinery & Petrochemicals and Vardhman Textiles

Petrochemicals
Power
Textiles

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Sat, Jul 13, 2024