Srei Group

NARCL likely to revive Srei group's infra financing arm SIFL, wind up SEFL after debt recovery

NARCL (National Asset Reconstruction Company) won the bid to take over the two Srei group firms -- SIFL and Srei Equipment Finance Ltd (SEFL) -- through an insolvency process.

Deadline to submit bids for Srei Infra, Srei Equipment Finance extended to June 30

This is the second time that the deadline has been extended. The first deadline was May 17 but was extended to June 7 and now it is June 30.

RBI's decision to supersede boards of Seri group companies will prevent domino effect: Experts

RBI had last week superseded the boards of Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL) for their failure to repay debts.

NCLT admits insolvency pleas against 2 Srei Group firms, appoints administrator

A two-member Kolkata Bench admitted two separate petitions filed by the RBI for initiation of corporate insolvency resolution proceeding (CIRP) against two non-banking financial companies- SREI Infrastructure Finance and SREI Equipment Finance Ltd.

Lenders reject Srei’s standstill appeal; company moves a step closer to bankruptcy

Any resolution through IBC for a finance company has to be routed through the RBI in line with the regulations. 

Srei Group Crisis | Banks favour RBI-led DHFL-like resolution

Some banks also favour SREI board dissolution and appointment of RBI administrator. However, RBI's decision on the Srei Group resolution matter is awaited. In FY 2020, RBI audit flagged Rs 8,576 crore of probable related -party lending by Srei group.

Srei lenders adjust Rs 3,000 crore from SEFL’s cash flows against loan dues, talks still on for debt recast

On September 14, Moneycontrol reported that the crisis-ridden group had asked lenders to approve a much-needed debt recast and has knocked on the doors of the Reserve Bank of India to seek clearance to get a clutch of investors on board.

EXCLUSIVE| Srei Group's lenders lift salary cap of top executives, may pay arrears soon

On March 17, Moneycontrol first reported about the lenders move to cap the top executive salaries.

Exclusive | SREI top level exodus continues: COO quits after lenders cap top deck salaries

Moneycontrol, on March 21, reported that more senior level exits are likely post Company secretary exits.

Exclusive | Srei’s lenders cap salaries of top deck, trigger senior level exits

There have been a least ten senior level exits from Srei, the troubled Kolkata-based NBFC, after the salary restrictions by banks in December.

Srei, CBL ink MoU to form JV to offer surety, guarantee bonds

The MoU was signed at New Zealand High Commission here last night in presence of New Zealand's High Commissioner to India Joanna Kempkers and NITI Aayog CEO Amitabh Kant.

SBI-led consortium defers stake sale in Adhunik Power: Sources

A consortium of banks led by State Bank of India have postponed the sale of stake they hold in Adhunik Power and Natural Resources in spite of receiving multiple offers, people aware of the developments told CNBC-TV18.

Govt clears ATC buying 51% stake in Viom for Rs 5,856.51 cr

ATC in October 2015 announced to buy 51 stake in Viom, which owns and operates about 42,200 towers and has another 1,000 mobile phone masts under construction, from Tata Teleservices and SREI Infrastructure Finance.

KPMG probing ex company secy allegations: Kanoria

Speaking to CNBC-TV18, Hemant Kanoria, director of Viom and CMD of SREI said, the former company secretary has made the allegations to get back at the firm for firing him.