Digging Deeper | The CG power fraud

The CG Power fraud, which came to light a few days ago, has once again turned the spotlight on irregularities in corporate governance in India.  CG Power and Industrial Solutions Ltd's current avatar informed stock exchanges on Tuesday last that investigations by an independent law firm revealed some employees had carried out unauthorised transactions. Those transactions led to a potential understatement of the liabilities of CG Power as well as advances given to related and unrelated parties of the company and the group. The financial fraud at the Gautam Thapar-promoted CG Power allegedly runs into thousands of crores. 

In today’s edition of Digging Deeper, we’re looking at the latest case of corporate misgovernance.