Gautam Thapar may not be able to regain CG Power control


Gautam Thapar may not be able to regain CG Power control

Gautam Thapar’s efforts to wrest back control of his group company CG Power and Industrials by buying back pledged shares are likely to hit a wall. Lenders including KKR and Yes Bank have converted the pledged shares into equity, making a share transfer impossible, said people with knowledge of the development.

Larsen & Toubro’s 10% stake, which is held in a trust, cannot be bought by Thapar because the Securities and Exchange Board of India has barred the promoter and his entities from engaging in equity transactions. Read More

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