Total income rose to Rs 1,062.24 crore in the quarter from Rs 434.84 crore in the same period a year ago.

Ahmedabad-based Pipara & Co’s offices were raided by anti-corruption bureau sleuths in March in connection with alleged misconduct in the audit of Gujarat State Land Development Corporation.

The new case pertains to a complaint filed by State Bank of India against CG Power & Industrial Solutions and others, including its then CEO, then CFO, then directors and unknown persons. The lenders’ consortium has accused them of causing an alleged loss of Rs 2,435 crore, the CBI said.

Earlier this month, the federal agency had booked Thapar, two private companies based at Delhi and Gurugram and their promoters and directors for causing an alleged loss of Rs. 466.51 crore (approx) to Yes Bank.

For the year ending March 31, 2021 standalone PAT stood at Rs 273.18 crore as against Rs 330.55 crore during corresponding quarter previous year.

Leading exchanges BSE and NSE will suspend trading in the shares of Dewan Housing Finance Corporation Ltd (DHFL) with effect from Monday.

The Board of Directors of the company have approved a capital expenditure programme of Rs 135 crore to be implemented in the current financial year. The capex will be spent in balancing, debottlenecking and modernising facilities at the plants to improve production and productivity, the company said.

Total income in the fiscal year stood at Rs 3,065.87 crore compared to Rs 5,158.01 crore in 2019-20.

The proposal was listed on the agenda of the EGM scheduled on June 7, 2021.

Earlier this week on Tuesday, the board of directors of the company had approved the proposal for the issuance and allotment of 1,38,45,000 shares of the company of face value of Rs 2 each on a preferential basis at a price of Rs 73.10, including a premium of Rs 71.10 per equity share, aggregating to Rs 1,01,20,69,500 for consideration other than cash.

The board has approved the issuance and allotment of 1,38,45,000 shares of the company of face value of Rs 2 each on preferential basis at a price of Rs 73.10, including premium of Rs 71.10 per equity share, aggregating to Rs 1,01,20,69,500 for consideration other than cash.

After rallying ~5% from the recent low, mild throwback might be there to digest the recent up move. However, shifting range higher, levels of 14,550 could act as a support zone.

In 2019, the board of CG Power & Industrial Solutions had to restate its earnings after finding suspected fraudulent transactions by its chairman and few confidantes had removed its chairman Gautam Thapar alleging misappropriation of funds. Thapar refuted the allegations and claimed he had repaid Rs 4,000 crore to many lenders since 2015.

The promoter entities of Hathway Cable and Datacom plan to offload about 19 per cent stake in the company.

In another regulatory filing, it said the board has approved the appointment of P Varadarajan as company secretary and compliance officer and key managerial personnel of the company from April 1, 2021.

The astounding performance was aided by the trillions of dollars of money printing by global central banks and stimulus packages from governments to repair the global economy from the Covid-19 shock.

The Murugappa Groups Tube Investments of India which has taken over the company has invested nearly Rs 800 crore to turnaround the scam hit CG Power.

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