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Rs 589 crore cheating case: FIR against 4 power co directors in Mumbai | Mumbai News

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Mumbai: The city’s economic offences wing (EOW) police have registered a case against four directors of a power generation firm and several others for transferring its compulsory convertible debentures (CCDs) with a face value of Rs 137 crore to another company illegally without the knowledge of key office bearers. The market value of the CCDs is Rs 586 crore.
C Kalaiselvan (35), a director with SKS Power Generation Company Ltd (SPGCL), on behalf of his company, lodged an FIR at the MIDC police station recently.
The SPGCL’s power generation plant is in Chhattisgarh while it’s headquarter is in Mumbai’s Andheri area. Four old directors of the firm have been named as accused in the FIR, which is now being probed by the EOW. “We have registered a case of cheating. The total cheating amount is around Rs 589 crore,” said Niket Kaushik, EOW chief. ....

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