Get latest articles and stories on Latest News at LatestLY. In a last ditch effort, Srei Group promoters have submitted a resolution plan with the Srei administrator under Section 12A of IBC, offering to pay off dues of around Rs 32,000 crore to creditors to withdraw their companies from the ongoing insolvency process. Latest News | Srei Promoters Submit New Resolution Plan Under Sec 12A to Exit Insolvency Process.