SREI Mutual Fund Asset Management Pvt Ltd (SREI AMC) has surrendered its registration certificate granted to SREI Mutual Fund Infrastructure Debt Fund (IDF) by the Securities & Exchange Board of India (SEBI).
The Bombay High Court (HC) on Thursday dismissed a petition filed by promoters of Srei group against Reserve Bank of India’s (RBI) decision to supersede the boards of two non-banking finance companies (NBFCs) of the group and initiated insolvency proceedings in both cases.
The Reserve Bank of India (RBI) on Monday superseded boards of Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL) due to governance concerns and defaults.