The administrator appointed by the Reserve Bank of India (RBI) has admitted a total amount of claims worth Rs 22,910.4 cr out of a combined amount of Rs 25,115 cr as demanded by the commercial lenders of SREI Infrastructure Finance Limited and its wholly owned subsidiary SREI Equipment Finance Limited.
The administrator, Rajneesh Sharma, has rejected claims worth around Rs 1604.6 cr of the commercial banks, while Rs 601.3 cr has been under verification as on November 19, 2021.
The Kolkata bench of the National Company Law Tribunal (NCLT) on October 8 gave its approval to start insolvency proceedings against SREI Infrastructure Finance Limited and SREI Equipment Finance Limited after RBI filed insolvency applications against the two companies.
The central bank filed the insolvency petitions against the two companies just after the Bombay high court dismissed a petition filed by two promoters of SREI group challenging RBI’s decision to supersede the boards of these companies and initiate insolvency proceedings against them.
The second meeting of the Committee of Creditors (CoC) of SREI Equipment Finance Limited was convened and conducted on November 29.
To be continued
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