CG Power and Industrial Solution has informed that in connection with delay in making quarterly disclosures to the Stock Exchanges, regarding default in repayment of loans/interest on loans to the lenders in the prescribed format, as required under SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated 21st November 2019, relevant to the quarters ended 31st December 2019 and 31st March 2020, SEBI has levied a penalty of Rs 5 lakhs on the Company. It may be noted that the delay in disclosure happened when the Company was under the erstwhile management. Copy of the Adjudication Order No. Order/GR/PU/2022-23/22341 dated 23rd December, 2022 is enclosed.
The above information is a part of company’s filings submitted to BSE.
