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SREI IBC
SC dismisses Adisri Commercial's appeal against insolvency proceedings on SREI FirmsThe Supreme Court dismissed Adisri Commercial's appeal against the admission of insolvency proceedings against SREI Infrastructure Finance ...- New MD & CEO appointed at Srei Infrastructure Finance under NARCL managementThe Kolkata-based Kanorias previously controlled the twin companies of SIFL and Srei Equipment Finance Company till RBI superseded their bo...
- Shri Ram Multicom to acquire Sarga Hotels under IBCThe Kolkata bench of the National Company Law Tribunal approved a Rs 301 crore resolution plan against Rs 816 crore admitted claims from cr...
- 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...
- SC dismisses plea seeking stay on insolvency process against 2 Srei CosA Bench led by Chief Justice DY Chandrachud's upheld the order of the National Company Law Appellate Tribunal (NCLAT) rejecting Srei Infras...
- 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 ...
- Srei voting process on 3 resolution plans to begin on January 19"All legal approvals are in place and the voting process will begin tomorrow. Three resolution plans received under the challenge mechanism...
- 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 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 interested in taking over loan accounts of debt-ridden Srei: OfficialThe development comes at the time when the resolution is at an advanced stage, and financial bids are expected to be submitted latest by Au...
- Sebi tells trustees to follow its norms in votes on resolutionSebi rules say that all bondholders have to vote for a resolution to pass. That is contrary to the IBC rules, which allow voting to be done...
- Srei founder urges RBI governor to advise banks not to act on KPMG reportEven though Kanoria had moved the court challenging the report, he has appealed to Reserve Bank of India (RBI) governor Shaktikanta Das to ...
- Advocacy group FCRP flags concerns over resolution professional appointment in Srei matterThe RBI superseded the two companies' boards on October 4, 2021, citing governance issues and defaults. On October 8, the RBI referred thes...
- 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...
- RBI's decision to supersede boards of Srei group cos will prevent domino effect: ExpertsThe National Company Law Tribunal (NCLT) on Friday admitted the insolvency pleas moved by banking sector regulator RBI against the two Srei...
- 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 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...
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