According to a Business Standard
report dated February 13, 2020, CG Power's board battle led to value destruction for its shareholders. "A report by InGovern Research Services has raised several questions on the role of the board, banks, and private equity firm KKR India. “Banks and non-banking financial companies seem to have been fully cognizant of the situation in the company and other group companies and yet continued to fund and increase group company exposures against guarantees of the listed company,” the report had said. READ MORE
In July, private sector lender YES Bank had sold 2.66 per cent stake
held in the company.
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