Goyal Expresses Concern Over Removal As Chair of Spark Hydroelectric Company
Tue, Feb 17, 2026 6:46 AM on Highlight News, National,
Shrawan Kumar Goyal has expressed concern over his “forceful” removal from the position of chair of the board of directors of Spark Hydroelectric Company Limited.
He claimed that he was removed after he questioned about alleged mismanagement and irregularities in the company.
According to Goyal, he was appointed on September 29, 2025 at the request of the company’s office bearers after acquiring a sizeable stake in the company. However, he later accused some office bearers, including managing directors and directors, of alleged financial irregularities, misappropriation of funds and preparing financial reports without his knowledge.
He maintained that he repeatedly warned the company’s officials, both in writing and verbally, not to engage in activities that could harm the company’s image or breach the prevailing laws. Despite these warnings, no corrective measures were taken, he said.
He ultimately filed a complaint with the Office of the Company Registrar on February 8, 2026 as per the Companies Act, 2063, seeking directives against the alleged irregularities.
He maintained that his removal from the chair of the company was an act of retaliation. “When I insisted that the company should run as per the prevailing law and registered a complaint with the Company Registrar, the company officials took revenge by removing me from the position of chair,” he said.
“Now, I have come to realise that I was appointed the chair only for the company’s financial closure. I am deeply saddened by these immoral activities.”
He also requested banks and financial institutions not to extend loans to the company solely based on his personal reputation. “I am no longer the chair of the company’s board of directors. I want to request all concerned not to invest in the company which is entangled in irregularities and disputes,” he said.
Additionally, he said he would not be responsible for any losses on investments made in the company without his knowledge.
