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Majority of Srei lenders vote for NARCL offerLate evening on Tuesday, its administrator informed lenders that 89.2% of verified creditors voted in favour of NARCL’s resolution plan, wh...- Kanorias offer full payment of dues to regain Srei controlPromoters of Srei group, the Kanoria family has proposed to make full payment to lenders in a last-ditch attempt to regain control over the...
- 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...
- Srei group companies' lenders agree to set aside ₹824-crore sale proceeds in escrow accountAmid this, the appellate tribunal of the bankruptcy court again rejected an application from Adisri Commercial, the holding company of Srei...
- 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 lenders to start voting on resolution plans from MondayMost Srei lenders, including State Bank of India, will prefer to vote for the government-promoted bad bank since it has given the highest o...
- Srei resolution: Varde Partners-Arena consortium submits revised bid, CoC voting after plan viability reportA consortium of alternative investment firm Varde Partners and institutional asset manager Arena has submitted a revised bid for the debt-l...
- NARCL makes highest offer for twin Srei companies at auctionGovt owned ARC is offering Rs 5555 crore for Srei on NPV basis. Authum is offering Rs 5526 crore while Arena-Varde is offering Rs 4,600 cro...
- Srei lenders to hold challenge auction Tuesday to select winnerLenders have set a threshold value of ₹3,000 crore as upfront payment - the minimum a resolution applicant must pay to be in the fray, said...
- Srei CoC evaluates bids, finalisation likely in 2-3 daysThe Consolidated Committee of Creditors (CoC) of twin Srei companies may take two-three days to select the resolution plan from among three...
- NARCL, Arena-Varde, Authum offer resolution plans for SreiNARCL has appointed Alvarez and Marsal to advise it on submitting the plan for Srei. EY is advising the Srei administrator on the resolutio...
- Lenders to Srei cos to restart sale processSince the terms of the RFP are modified, the administrator is required to issue fresh expressions of interest (EoI) to allow others to bid....
- Lenders' Dilemma: Restart Srei sale or review non-compliant bidsA majority of lenders did not favour accepting a non-compliant EMD since that would require changing the terms of the RFP and reinviting bi...
- Srei companies' resolution applicants fail to deposit earnest moneyTerms of the request for proposal (RFP) required both offers – by Arena Investors in partnership with Varde Partners, and Shon Randhawa wit...
- 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...
- Arena Investors and Varde Partners are preparing to submit a plan for SreiAt a meeting of the committee of creditors held on Wednesday, most lenders voted to extend the deadline for receiving resolution plans to A...
- US-based Arena Investors evinced interest to acquire Srei before RBI took controlThe Srei group had forwarded the proposal to RBI for a review a couple of months ago, the executives said. Arena is an institutional asset ...
- Airtel, Jio bid for RCom telecom assetsBharti Airtel, Reliance Jio, Varde Capital and UV Asset Reconstruction Company have submitted bids to buy assets of debt-ridden Reliance Co...
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