How an EUR44 million loan from StanChart put Murugappas’ CG Power between Sebi and a hard place


A view of the Standard Chartered company workplace at Marina Bay Financial Centre, Singapore on July 21, 2019.

Synopsis

Last week, Sebi issued a show-cause discover to Standard Chartered Bank, questioning its function in alleged fund diversions in CG Power. This places Murugappa group’s plan to supply a 1% preferential difficulty to the financial institution to settle the transactions beneath cloud. A whole lot of questions must be answered at an EGM slated at this time to get the proposal cleared.

When Dewan Bahadur AM Murugappa Chettiar started his quest for fortune within the southern Burmese metropolis of Moulmein within the early 1900s, Karam Chand Thapar (KCT) was nonetheless a toddler in Ludhiana. Chettiar’s empire grew far and extensive between the 2 World Wars, as he diversified each sectorally and geographically into rubber plantation, textiles, and insurance coverage in Malaya and Vietnam.Meanwhile, KCT discovered black gold within the coal fields of Bengal and Bihar

  • GIFT ARTICLE
  • FONT SIZE
  • SAVE
  • PRINT
  • COMMENT

Sign in to learn the total article

You’ve received this Prime Story as a Free Gift

Already a Member?

NEW ON ET PRIME

Comprehensive and In-depth Reports on 4,000+ Stocks, up to date every day

Subscribe Now

NEW ON ET PRIME

Comprehensive and In-depth Reports on 4,000+ Stocks, up to date every day

Subscribe Now

NEW ON ET PRIME

Comprehensive and In-depth Reports on 4,000+ Stocks, up to date every day

Subscribe Now

Why ?

  • How an EUR44 million loan from StanChart put Murugappas’ CG Power between Sebi and a hard place CG Power, Corporate Governance, Crompton Greaves, Murugappa group, Sebi

    Exclusive Economic Times Stories, Editorials & Expert opinion throughout 20+ sectors

  • How an EUR44 million loan from StanChart put Murugappas’ CG Power between Sebi and a hard place CG Power, Corporate Governance, Crompton Greaves, Murugappa group, Sebi

    Stock evaluation. Market Research. Industry Trends on 4000+ Stocks

  • How an EUR44 million loan from StanChart put Murugappas’ CG Power between Sebi and a hard place CG Power, Corporate Governance, Crompton Greaves, Murugappa group, Sebi

    Clean expertise with
    Minimal Ads

  • How an EUR44 million loan from StanChart put Murugappas’ CG Power between Sebi and a hard place CG Power, Corporate Governance, Crompton Greaves, Murugappa group, Sebi

    Comment & Engage with ET Prime neighborhood

  • How an EUR44 million loan from StanChart put Murugappas’ CG Power between Sebi and a hard place CG Power, Corporate Governance, Crompton Greaves, Murugappa group, Sebi

    Exclusive invitations to Virtual Events with Industry Leaders

  • How an EUR44 million loan from StanChart put Murugappas’ CG Power between Sebi and a hard place CG Power, Corporate Governance, Crompton Greaves, Murugappa group, Sebi

    A trusted group of Journalists & Analysts who can greatest filter sign from noise



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *