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The High Court of Karnataka has prevented the chairman of TD Power System, along with others, from transferring over Rs 555 crore worth of shares in the company. The good faith of Mohib Nomanbhai Khericha, a family friend of the chairman, Nikhil Kumar and TD Power's and Khericha's company, Sapphire Finman Services, has been called into question in relation to the sale of shares.
The court passed the interim order on a petition by Vijay Ravindra Kirloskar, the chairman of city-based Kirloskar Electric Company (KEC) who founded TDPSL | Bengaluru News
The High Court of Karnataka has restrained the chairman of TD Power System Ltd (TDPSL) and several others from transferring shares worth Rs 555 crore of the company. The court passed the interim order on a petition by Vijay Ravindra Kirloskar, the chairman of city-based Kirloskar Electric Company (KEC) who founded TDPSL in 1999. Kirloskar along with the several KEC Welfare