Singapore-based Payash Capital objects to Arcelor inclusion in Srei bidding
Singapore-based Payash Capital, a 49 per cent stakeholder in Trinity Alternative Investment Managers Limited (TAIML), has opposed the decision of the administrator to include ArcelorMittal as a bidder for SREI assets under insolvency proceedings.
In a letter to the administrator, Rajneesh Sharma, of SREI Infrastructure Finance Limited, Payash Capital said, ArcelorMittal Group is not competent to apply for bid of SIFL since ArcelorMittal has zilch expertise in the field of finance business.
