The administrator of two Srei group companies, in the first meeting of the committee of creditors on Tuesday, apprised them about the status of the firms’ corporate insolvency resolution process, as per regulatory filings.
Last month, the Reserve Bank had superseded the boards of Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL) and appointed Rajneesh Sharma as the administrator of the two crisis-ridden firms.
Post this, RBI appointed a three-member advisory committee to assist Sharma in the corporate insolvency resolution process (CIRP) of the two Srei group companies.
On October 8, the Reserve Bank (RBI) bank had filed applications for initiation of corporate insolvency resolution process against SIFL and SEFL at the Kolkata Bench of the National Company Law Tribunal (NCLT).
