Srei Equipment Finance gets EoI from Makara Cap for ₹2,200-cr investment 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.
The meeting, to be held virtually on June 12, is in accordance with the order passed by the Kolkata bench of the National Company Law Tribunal (NCLT) in December last year proposing a scheme of arrangement by SEFL.
The Srei group continues to face human resource crisis with Srei Equipment Finance (SEFL) company secretary putting in her papers on Monday, even as the banks have lifted the cap on the salary of senior-level executives. Srei Infrastructure Finance Ltd (SIFL), the parent company of Srei Equipment, saw its company secretary Sandeep Kumar Lakhotia resigning earlier in March this year. We wish to inform that Ritu Bhojak, company secretary of Srei Equipment Finance Ltd has resigned from the position of Company Secretary & Compliance Officer of the company and will be relieved w.e.f. close of working hours of 10th May, 2021, SEFL said in a statement.
Srei announces third prospective investor for capital infusion
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Synopsis
Cerberus joined two other prospective investors for infusing capital into Srei Equipment Finance Ltd (SEFL), a wholly owned subsidiary of Srei Infrastructure Finance.
Earlier in the month, the US-based Arena Investors LP and Singapore s Makara Capital Partners showed interest to invest up to $250 million.
The Srei Group announced that it received an expression of interest for capital infusion from New York headquartered private investment firm Cerberus Global Investments B.V.
The group however did not disclose the committed size of infusion.
Cerberus joined two other prospective investors for infusing capital into Srei Equipment Finance Ltd (SEFL), a wholly owned subsidiary of Srei Infrastructure Finance.
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.