Srei Infra

Srei Infrastructure Finance and Srei Equipment Finance were admitted for bankruptcy following applications filed by the Reserve Bank of India in October 2021

The National Company Law Tribunal (NCLT) has extended the time till January 5 next year for completion of insolvency resolution process for Srei Infrastructure Finance. Total three participants have shown interest in the buyout process. "National Company Law Tribunal, Kolkata bench has extended the time of completion of Corporate Insolvency Resolution Process (CIRP) till 5th January, 2023 with respect to the ongoing CIRP of the company," Srei said in a BSE filing. In October 2021, the RBI took the management of the Kolkata-based non-banking housing finance company due to its deteriorating financial conditions and governance issues. Following this, the company came under CIRP. The RBI and Srei are the litigant parties in the matter. As per an NCLT order dated October 31, 2022, the Srei administrator had sought more time till January 2023 for completion of CIRP. The committee of creditors (CoC) through its counsel had informed NCLT that Expressions Of Interest (EoIs) have been rece

Sources close to the development said whether new participants who were not part of the original list of EOI would be allowed will have to be evaluated

The RBI recently superseded the boards of Srei Infra and Srei Equipment Finance. While the situation is still developing, we delve into the background of the family behind the business

Who are the people behind Srei Infra and Srei Equipment Finance? How will Electronic Gold Receipts compare with other gold instruments? What are unicorns, decacorns and hectocorns? All answers here

Ex-BoB official named administrator of the companies

Equipment finance NBFC Srei Infrastructure Finance Ltd on Saturday said its company secretary Sandeep Kumar Lakhotia has resigned. The move comes following the salary cap imposed on the company by its lenders amidst pandemic-induced stress on its business. The company, when contacted, said around 180 employees have exited since December last year. "We wish to inform you that Sandeep Kumar Lakhotia, Company Secretary of the company has resigned from the position of Company Secretary & Compliance Officer of the company," Srei Infrastructure Finance Ltd said in a regulatory filing. Lakhotia will be relieved with effect from the close of working hours of 20th March, 2021, Srei said. "The company shall be shortly appointing a new Company Secretary & Compliance Officer and the same shall be intimated to the Stock Exchanges in due course," it said. In the interim, Ekta Agarwal, Deputy Company Secretary of the company shall be in charge of the compliance function, it added. The ...

In a Q&A, the company's chairman says the firm had to freeze interest payment and redemption of NCDs due to the pandemic and related regulatory approach

Srei Infra wants Centre to intervene and ask state govts to clear all dues to contractors, expedite tax refunds, and release payments in arbitration awards

Srei Infra has reduced workforce by 800 between Sep 2018 and Sep 2019

Says buyback will prevent market operators from trying to get investors to sell their holdings at a deep discount, and will also make the exit route simpler

Vice-chairman of Srei Infrastructure Sunil Kanoria said the share swap was completed on Friday

Total income rose 7.5% to Rs 818 cr