Kolkata, Jan 4: The Government-backed National Asset Reconstruction Company Ltd has taken lead in taking over two stressed entities of the Srei group as it submitted the “highest net present value bid of Rs 5,555 crore” among bidders, an official said on Wednesday. NARCL’s net present value bid, submitted in the 10-hour-long “challenge mechanism” conducted by the committee of creditors (CoC) on Tuesday, constitutes Rs 3,200 crore in cash, a Rs 1000-crore jump from the previous plans offered, he said. […]
SREI Equipment Finance Ltd has reported alleged fraudulent transactions amounting to Rs 13,110 crore, during the erstwhile management of the company, run by Hemant Kanoria and Sunil Kanoria.In the unaudited financial results of the company for .
SREI Equipment Finance Ltd has reported alleged fraudulent transactions amounting to Rs 13,110 crore, during the erstwhile management of the company, run by Hemant Kanoria and Sunil Kanoria.
The Reserve Bank of India (RBI)-appointed administrator at Srei Equipment Finance Ltd. has found fraudulent transactions worth more than Rs3,000 crore conducted over financial year (FY) 2019-20 and FY2020-21.