Srei Equipment Finance gets EoI from Cerberus Global
SECTIONS
Last Updated: Apr 25, 2021, 10:24 AM IST
Share
Synopsis
Earlier this month, SEFL received EoIs for capital infusion of about $250 million (about Rs 1,864.35 crore) from US-based multi-strategy investment firm Arena Investors LP and Singapore-based global financial services company Makara Capital Partners.
PTI
NSE
Explore Now
NEW DELHI: Srei Equipment Finance (SEFL) has received an expression of interest for equity infusion of an undisclosed amount from global private investment firm Cerberus Global Investments, according to a regulatory filing.
Srei Equipment Finance Limited (SEFL) is a wholly-owned subsidiary of Srei Infrastructure Finance Limited.
The board of directors of
Srei Equipment Finance Ltd (SEFL) said on Saturday that it had appointed KPMG Assurance and Consulting Services LLP and DMKH & Co, chartered accountants, to conduct a forensic audit as part of its proposed debt realignment and good governance processes, respectively.
Srei has been in discussions with lenders for debt realignment. But lenders are unlikely to approve it without a forensic audit. Srei’s consolidated borrowings at the end of September 30, 2020, was at Rs 30,000 crore.
Meanwhile SEFL announced that it had further received an expression of interest (EoI) for capital infusion from Cerberus Global Investments BV. Earlier, it had received EoIs for capital infusion of about $250 million from US-based multi-strategy investment firm, Arena Investors LP, and Singapore-based global financial services company Makara Capital Partners.
Synopsis
Earlier this month, the government had introduced a pre-packaged insolvency resolution process for stressed MSMEs by amending the insolvency law.
Getty Images
MUMBAI: State-owned
Bank of Maharashtra is looking at resolving 20-25 stressed micro, small and medium enterprise (MSME) accounts under the pre-packaged insolvency resolution process, a senior bank official said.
Earlier this month, the government had introduced a pre-packaged insolvency resolution process for stressed MSMEs by amending the insolvency law.
Under a pre-packaged process, main stakeholders such as creditors and shareholders come together to identify a prospective buyer and negotiate a resolution plan before approaching the National Company Law Tribunal (NCLT).
Srei Infra appoints KPMG as forensic auditor for its debt restructing plan thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Hearing in Valli Arunachalam case reposted
Updated:
Updated:
Share Article
AAA
The National Company Law Tribunal (NCLT), Chennai, has reposted the hearing on Valli Arunachalam and her family’s waiver application to July 1.
The application had sought exemption from the minimum shareholding requirement of 10% for maintaining the oppression and mismanagement case against Ambadi Investments, the holding company of the ₹38,100-crore Murugappa Group, and also its family members.
The case was supposed to be taken up for hearing on Friday. However, it has been reposted following NCLT’s decision to take up only urgent matters through video conferencing due to COVID-19.