N. Srinivasan's Book Details CG Power's $10B Turnaround from Bankruptcy

• N. Srinivasan engineered CG Power's turnaround from bankruptcy, detailed in his book "The Great Revival."
• The Murugappa Group acquired CG Power in late 2020 amidst ₹2,600 crore debt, stalled operations, and investigations.
• Srinivasan's strategy included reconstructing financials, negotiating settlements (secured creditors took 43% haircut, MSME vendors paid in full), and restoring employee morale.
• Under his leadership, CG Power became debt-free, profitable, regained market share, and resumed equity dividends after eight years.
• The turnaround was achieved despite challenges like acquiring the company during the COVID-19 pandemic with unreliable financial records.

Why It Matters: It offers a blueprint for corporate revival from bankruptcy, guiding future business leaders.