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TWIN SREI COMPANIES
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...11 Aug, 2023, 01.47 PM IST- 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 ...10 Feb, 2023, 10.43 PM IST
- 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...31 Jan, 2023, 09.50 PM IST
- 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 ...19 Jan, 2023, 03.18 PM IST
- 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,...19 Jan, 2023, 06.12 AM IST
- 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...05 Jan, 2023, 06.01 AM IST
- 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...04 Dec, 2022, 05.48 AM IST
- 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...15 Nov, 2022, 06.08 AM IST
- Capri Global enters the race for twin Srei companiesSrei administrator Rajnish Sharma reinvited expressions of interest by the end of September, while Capri Global submitted EoI on October 14.19 Oct, 2022, 05.56 AM IST
- 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 ...13 Oct, 2022, 11.56 PM IST
- 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...23 Sep, 2022, 12.22 AM IST
- 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...16 Sep, 2022, 06.39 AM IST
- 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...11 Aug, 2022, 06.20 AM IST
- 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 ...05 Jul, 2022, 06.17 AM IST
- Srei lenders extend bid timeline to July 30The committee of creditors took both decisions on June 24, the people said. Earlier, Rajneesh Sharma, the administrator of Srei Infrastruct...29 Jun, 2022, 06.23 AM IST
- Srei lenders extend deadline to submit resolution plan to June 7The administrator has registered Rs 32,000 crore of claims from financial institutions, according to Srie's website. The extension in deadl...18 May, 2022, 07.27 PM IST
- RBI nudges twin Srei lenders banks to classify account as fraudIf the account is classified as fraud, it will prevent Kanoria from regaining control over the companies. Under 12A of the Insolvency and B...03 May, 2022, 11.13 PM IST
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