Srei administrator says Adisri plea not maintainable
As the erstwhile promoter company of two insolvent Srei firms urged the National Company Law Tribunal (NCLT) to set aside its order for initiating insolvency proceedings, solicitor general Tushar Mehta, appearing on behalf of the RBI-appointed administrator, on Friday argued that the plea was not maintainable because defaults had continued even after the period when initiation of the corporate insolvency resolution process (CIRP) was barred.
