The assets belong to various group companies of Avantha Group, "owned and controlled" by businessman Gautam Thapar."On 19.08.2019, CG Power and Industrial Solutions Ltd had made disclosure under Regulation 30 of the SEBI (listing obligations and disclosure requirements) Regulations, 2015 to Bombay Stock Exchange and National Stock Exchange regarding findings which had potential implications on the financial position of the company.
Land assets worth more than Rs 678 crore of the Avantha Group have been attached under the anti-money laundering law as part of an alleged bank loan fraud linked probe, the Enforcement Directorate said Thursday.
A provisional order under the Prevention of Money Laundering Act (PMLA) has been issued to attach the properties located in Haryana, Maharashtra and Uttarakhand.
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