Asian Hotels (West) Insolvency: NCLAT said the decision of lenders of Asian Hotels (West) was "arbitrary in not approving 12A Proposal", which offered to pay the entire debt of financial creditors as well as all other creditors.
Asian Hotels (West) has availed of term loans in different tranches totalling Rs 200 crore from YES Bank. It served its all financial obligations to Yes Bank till March 31, 2021.
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SREI Group's non-bank finance companies have seen interest from at least five potential bidders, according to two people in the know. A Reserve Bank of India initiated insolvency process is currently underway for SREI Infrastructure Finance Ltd and SREI Equipment Finance Ltd.