Srei founder Hemant Kanoria urges RBI governor not to accept KPMG report

Sources say he has pointed out that any action based on "improper" report may hamper ongoing resolution process being undertaken by RBI's administrator under IBC

Srei founder, Hemant Kanoria, has written to Reserve Bank of India governor, Shaktikanta Das, asking him to advise banks and lenders not to act against the two Srei companies based on “inconclusive” findings in the KPMG forensic report.

According to sources, Kanoria has pointed out to the RBI that any action on the basis of the “improper” report may hamper the ongoing resolution process being undertaken by the administrator appointed by the RBI under Insolvency and Bankruptcy Code (IBC).

The letter dated March 17, incidentally comes even as the matter is pending before the Kolkata Bench of the National Company