Monday, October 25, 2021

Srei Administrator to seek lenders' nod to control cash flows of two bankrupt companies

The mandate is being sought based on an internal assessment by lenders led by UCO Bank that the promoters - the Kanoria brothers - allegedly diverted money borrowed from banks to infuse equity in the subsidiaries, the officials said.

source https://economictimes.indiatimes.com/industry/banking/finance/srei-administrator-to-seek-lenders-nod-to-control-cash-flows-of-two-bankrupt-companies/articleshow/87265264.cms

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