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Kirloskar was referring to the appeal filed by him against TDPS in the Karnataka High Court on November 22, 2023, against an earlier order, which, as per the stock exchange filing, has not been disclosed by the company.
Sources said fund managers who attended the meeting raised concerns with the company management over the lack of disclosures about the dispute between the promoters prior to the stake sale.
On June 30, promoters and promoter groups, including Khericha, Kumar, Chartered Capital, Saphire Finman Services LLP, and Hitoshi Matsuo, sold around 37.8 million shares representing 24.21% of TD Power in the open market. Promoters, who held a 58.5% stake in the company before the transaction, now hold 34.30%.