Wednesday, August 10, 2022
Home > SREI Equipment Finance

Srei lenders to consider selling assets to ARCs to hasten recovery

Lenders to the defaulted Srei Group companies -- and Srei Equipment Finance -- are considering selling the sticky loan assets to the asset reconstruction companies to fasttrack recovery as they do not expect any quick resolution of the debt through the bankruptcy court. A joint lenders' meeting will

Read More

Future, Srei Cos among 17 accounts in NARCL’s buy list

The government-promoted National Asset Reconstruction Company (NARCL) has offered to acquire 17 distressed companies, including five Future group companies and two Srei accounts, from lenders, two people aware of the development said. The ARC a week ago circulated a list among lenders of 17 companies with total outstanding loans of

Read More

Delhi HC stays Punjab & Sind Bank from taking further action on Srei

In a relief to Srei Group and its founder Hemant Kanoria, the Delhi High Court has ordered Punjab & Sind Bank to restrain itself from taking any further action on the company. This comes after a recent classification of Srei loans as fraud by the state-owned lender, which took its

Read More

Srei founder urges RBI governor to advise banks not to act on KPMG report

Hemant Kanoria, founder of bankrupt companies Srei Infrastructure Finance and Srei Equipment Finance, has made a last ditch attempt to stop lenders from acting on the report of KPMG, the consultant which was hired by lead bankers to carry out a forensic audit of the two companies. Even though

Read More

NCLT Kolkata bench admits RBI’s petition against Srei group of companies

The National Company Law Tribunal (NCLT) has admitted Reserve Bank of India’s petition against (SIFL) and its wholly-owned subsidiary Srei Equipment Finance (SEFL) for resolution of their debt, estimated to be around Rs 28000 crore. The central bank referred the two companies to NCLT’s Kolkata bench on Friday to

Read More

SEFL debt repayment: After banks, regulators to appeal against NCLT order

(This story originally appeared in on Jan 25, 2021)NEW DELHI: After banks, regulators, including the RBI, are set to appeal against an order of the National Company Law Tribunal’s (NCLT’s) Kolkata bench, which had allowed a moratorium on debt repayment by Srei Equipment Finance (SEFL). Some lenders have

Read More