Mumbai: Promoters of Srei Group have on Wednesday filed a petition in the Bombay high court against the RBI after it superseded the boards of two of the group’s non-banking finance companies and initiated insolvency proceedings.
The petition was filed late evening on Wednesday. According to the cause list of the Bombay HC, a writ petition has been filed by Naik Naik and Co on behalf of Adisri Commercial and others. Adisiri Commercial is listed as a promoter of Srei Infrastructure with 60% stake in the company. The petition will come up for hearing on Thursday. The RBI had superseded the boards of the company citing governance issues and other lapses. An RBI-appointed administrator assisted by a three-member advisory committee has already taken charge of the company.
