The legal team working on the insolvency resolution of the Kolkata-based Srei group is digging through more suspect transactions beyond the ones disclosed on Monday, a person aware of the matter said.
The Srei group companies, which are undergoing corporate insolvency resolution process, came under duress during the Coronavirus-induced lockdown, as non-payment from its customers led to asset-liability mismatches.
Loans involved with these fraudulent transactions were at ₹2,512 crore, while the notional loss to the company stood at ₹513.67 crore, the filing said. The notional loss was on account of charging lower interest rates while lending to 14 companies
Schroder Real Estate Investment Trust Limited (LON:SREI – Get Rating) insider Lorraine Baldry acquired 1,432 shares of the stock in a transaction on Tuesday, April 12th. The stock was purchased at an average cost of GBX 58 ($0.76) per share, with a total value of £830.56 ($1,082.30). LON:SREI traded up GBX 0.20 ($0.00) during trading […]
NCLAT sets aside Srei resolution plan for Deccan Chronicle Holdings : Rashtra News #NCLAT #sets #Srei #resolution #plan #Deccan #Chronicle #Holdings Earlier, IDBI Bank had moved the NCLAT against a 2019 order of the Hyderabad bench of the NCLT, dismissing the private sector lender and state-owned Indian Overseas Bank’s appeals to declare Srei Multiple Asset […]