Srei promoter challenges RBI action against group firms in Bombay High Court : Rashtra News Srei Group promoters on Wednesday moved the Bombay High Court to challenge the Reserve Bank of India’s decision to supersede the boards of two group companies in preparation for sending them to bankruptcy courts. A division bench of Justices Ujjal
Business News: Creditors to two SREI firms told to submit claims by Oct 22 rashtranews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rashtranews.com Daily Mail and Mail on Sunday newspapers.
The government-promoted National Asset Reconstruction Company (NARCL) has raised ₹670 crore equity from existing shareholders and is in the process of raising ₹3,200 crore debt to support its plan to acquire ₹1 lakh crore of stressed assets. However, the bond issuance has faced challenges due to pricing differences between existing shareholders and the NARCL board. The ARC aims to raise funds through a five-year bond and fund-based limits but is negotiating the coupon rate with shareholders.
Srei Administrator to seek lenders' nod to control cash flows of two bankrupt companies : Rashtra News The administrator of Srei Infrastructure Finance and Srei Equipment Finance, Rajneesh Sharma, will seek a mandate from lenders to control the cash flows of the subsidiaries of the two bankrupt companies and appoint EY as its financial advisor,
A technicality in SREI's insolvency case has auditors at KPMG baffled rashtranews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rashtranews.com Daily Mail and Mail on Sunday newspapers.