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SREI BANKRUPTCY
NARCL rejigs boards of Srei twin companies after acquisitionThe government-backed asset reconstruction company appointed Shamik Roy, a veteran in the distressed loan segment who was earlier with HCC,...- 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...
- Cracking the Code: Q2 recovery under IBC rises to 33%Improved investor interest in a broad range of small and medium enterprises and above-average realisation from the assets of a large compan...
- Kolkata NCLT approves NARCL plan to acquire twin Srei companies under IBCThis will be the first acquisition of NARCL after it was formed two years ago with the aim to acquire bad loans from Indian banks. NARCL, w...
- 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...
- 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 Groups' Liquidation Value pegged at Rs 6,000 cr & Fair Value at Rs 9,000 crThe sources revealed that in comparison, the bids submitted by the three bidders, i.e. NARCL, Varde-Arena consortium, and Authum are in the...
- 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 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 ...
- 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...
- NCLT admits insolvency plea against Nirmal Lifestyle KalyanKolkata-based Srei Equipment Finance Ltd had approached the Mumbai bench of the National Company Law Tribunal (NCLT) after Nirmal Lifestyle...
- 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...
- A merger of Srei companies' debt could boost recoveryLenders to the bankrupt Srei Group are hoping that consolidation of the two debt-laden companies - Srei Infrastructure Finance and Srei Equ...
- RBI retains advisory committee on Srei group companiesThe members of the committee are: R Subramaniakumar (Former MD & CEO, Indian Overseas Bank), T T Srinivasaraghavan (Former Managing Directo...
- 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...
- Srei Infrastructure Finance shares decline 5% to hit lower circuit limitThe Reserve Bank on Monday superseded the boards of Srei Infrastructure Finance as well as Srei Equipment Finance, citing concerns over gov...
- Srei Infra’s Rs 215-cr offer for Adhunik Alloy disqualifiedSrei Infrastructure had bid with three other applicants for Adhunik Alloy, one of the four companies of Adhunik group facing bankruptcy pro...
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