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.
Get latest articles and stories on Latest News at LatestLY. A consortium of alternative investment firm Varde Partners and institutional asset manager Arena has submitted a revised bid for the debt-laden Srei group entities after its previous plan was termed as "non-compliant", sources said on Sunday. Latest News | Srei Resolution: Varde Partners-Arena Consortium Submits Revised Bid, CoC Voting After Plan Viability Report.
In the challenge mechanism process, two parameters – an upfront cash component and the net present value (NAV) of the committed amount under the financial proposals – are the key factors.