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Murugappa Group led Tube Investments remains sole bidder for CG Power

Updated : August 27, 2020 08:09 AM IST

Murugappa Group-led Tube Investments remained the sole bidder, with no new suitors coming forward under the Swiss Challenge method.
Lenders proposed to conduct the sale via the Swiss Challenge Method which is an open bid process favouring the highest offer.
The company ran into trouble last year when its board discovered large accounting irregularities. Its chairman Gautam Thapar was subsequently forced to leave.

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