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RBI Prepares To Refer SREI Group Firms For Insolvency—BQ Exclusive
The RBI is preparing to refer Srei Infrastructure Finance and Srei Equipment Finance for insolvency proceedings.
05 Oct 2021, 07:16 AM IST i

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Workers labour at a construction site (Photographer: Sara Hylton/Bloomberg)
The Reserve Bank of India is preparing to refer Srei Infrastructure Finance Ltd. and Srei Equipment Finance Ltd. for insolvency proceedings, according to two people in the know. As per procedure, the RBI will first need to supersede the board of these companies before referring them for insolvency proceedings.Non-bank lenders are referred for insolvency under a special window of the Insolvency and Bankruptcy Code. While lenders recom...

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