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SREI COMPANIES
NARCL finalises acquisition of two SREI companies"This would be one of the largest time-bound resolutions in recent years," NARCL managing director N Sundar was quoted as saying in a press...- IMC constituted to supervise NARCL resolution plan for Srei group firmsAs per the approved resolution plan, it said, "an implementation and monitoring committee has been constituted (IMC), which is inter alia e...
- Promoter Kanoria offer to make full payment to lenders of twin Srei CompaniesAdisri offered Rs 3000 crore upfront payment and the balance as deferred payment in the form of non-convertible debentures (NCD), optional ...
- ED conducts searches at Srei premises at multiple locations in KolkataThe raids by about 50-60 ED officer are involved in the raids, which began at around 8.30 am with a large number of central forces on guard...
- Resolution of twin Srei companies delayed as voting on winning bidder is on holdSrei’s administrator, Rajnish Sharma, had invited lenders to vote on the three plans – National Asset Reconstruction Company NARCL, Authum ...
- Voting on top bidder for troubled Srei companies likely to face delaysSeparately, the National Asset Reconstruction Company (NARCL), the highest bidder, is awaiting clarity on the payment terms from its owner,...
- Srei companies, RCap may get more resolution offersSrei Infrastructure Finance and Srei Equipment Finance (SEFL) generated a lot of interest among potential bidders after the administrator r...
- Lenders of two Srei companies extend offer deadline by a monthAfter lenders restarted the sale process of Srei Equipment Finance and Srei Infrastructure Finance, administrator Rajnish Sharma had set a ...
- Lenders invite fresh resolution plans for Twin Srei companiesLenders of twin Srei companies passed resolutions to lower the earnest money deposits (EMD) to ₹50 crore from ₹150 crore and the performanc...
- Srei administrator extends deadline for bids after receiving two offersThe last day to make an offer for Srei Infrastructure Finance and Srei Equipment Finance has now been extended to August 19, giving other a...
- Srei lenders to consider selling assets to ARCs to hasten recoveryA joint lenders' meeting will take place on Monday to consider this, Uco Bank managing director Soma Sankara Prasad said. Uco Bank is one o...
- Srei lenders to retain cash on books till companies get soldThis is a variation from the past resolutions wherein the bidders were beneficiary of the earnings accrued during the corporate insolvency ...
- Punjab & Sind Bank declares Srei loan accounts as fraudsWhile the Kanorias had moved court against the KPMG report, the latest move by Punjab & Sind Bank may prompt other banks to follow suit. Th...
- SREI's 'connected entities' baffle KPMG forensics teamAccording to the report, which is replete with caveats and assumptions, the Srei companies had lent about Rs 8158 crore to “connected parti...
- RBI-appointed administrator moves court to retain Srei control over TrinitySrei Infrastructure Finance, the main Srei company, holds 51% in Trinity, and the balance 49% equity is held by Payaash Capital, a Singapor...
- Lenders begin voting on group insolvency of 2 Srei companiesLenders of Srei Infrastructure Finance and Srei Equipment are currently voting on a proposal by administrator Rajneesh Sharma to undertake ...
- Srei's creditors looking at consolidating all debtBankers are contemplating consolidating the total debt of two Srei companies - Srei Infrastructure Finance and Srei Equipment Finance - for...
- NCLT Kolkata bench admits RBI's petition against Srei group of companiesThe National Company Law Tribunal (NCLT) admitted the bankruptcy pleas against Srei Infrastructure Finance (SIFL) and its wholly owned subs...
- Srei Group Promoters move Bombay HC against RBI insolvency actionSrei group promoters are seeking stay on any insolvency proceedings at group companies Srei Infrastructure Finance Ltd and Srei Equipment F...
- RBI directs audit of two Srei companies to check possible links with IL&FSThe audit, directed by the Reserve Bank of India (RBI), will track the end use of money lent by Srei firms against ‘letter of awareness’ is...
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