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Incorporated in 2019, Teerth Gopicon engaged in road construction, sewerage, and water supply in Madhya Pradesh.
Teerth Gopicon's contract with Indore Smart City for developing 68,510 sq. m. land has been terminated. This significant operational setback occurred due to TGL's non-deposit of the first installment, costing the company a key development and revenue opportunity.
CBI investigation continues for TGL; MD Maheshbhai M Kumbhani's bail denied. An estimated Rs. 183 Cr is involved. Company reports no current material operational/financial impact, pursuing legal options and cooperating with authorities.
TGL reports an ongoing CBI investigation with its MD judicially remanded over an estimated Rs. 183 Cr. The company states no material impact on operations/financials, affirming full cooperation with authorities and commitment to transparency.
Company faces CBI probe over Rs. 183 Cr fraud involving false bank guarantees by a consultant. MD Maheshbhai M Kumbhani taken into custody for two days. Company reports no material operational/financial impact and is cooperating with authorities.
Teerth Gopicon Limited has its 6th Annual General Meeting on September 30, conducted virtually. Investors can cast electronic votes on 6 resolutions from September 27 to September 29. Results will be announced shortly after the meeting.