News for Srei Infrastructure Finance Limited (SREINFRA.NS)

RBI supersedes Aviom India Housing Finance board due to governance concerns, defaults, and potential discrepancies in accounts.

Supreme Court allows simultaneous insolvency proceedings against principal borrower and guarantor, clarifies subsidiary assets exclusion in resolution process.

The Kolkata-based Kanorias previously controlled the twin companies of SIFL and Srei Equipment Finance Company till RBI superseded their boards over alleged mismanagement in October 2021 and subsequently initiated IBC proceedings. However, NARCL successfully acquired the companies under the Insolvency and Bankruptcy Code (IBC) initiated by RBI to resolve over Rs 32,000 crore debt of the NBFCs.

Sweat, stenographers and papers tied with string: the making of legal precedent

"Consequent upon the resignation of Shri Farokh N Subedar from the Advisory Committee with effect from January 31, 2023, it has been decided to appoint Shri V Ramachandra as a member of the Advisory Committee with immediate effect," the central bank said in a statement.

‘Despite Torrent’s objections, CoC on Tuesday voted in favour of second round allowing all four eligible bidders to participate’

The transaction auditor of debt-ridden Srei has indicated a fresh fraud amounting to Rs 296 crore under the erstwhile promoters.

NOTICES Notice No. 20221220-7 Notice Date ... | December 20, 2022

SIFL/SECT/RS/22-23/98 December 03, 2022 The Secretary ... | December 3, 2022

SIFL/SECT/FA/22-23/73 October 15, 2022 The Secretary ... | October 15, 2022

Markets have been trading in a narrow range for the last few days. There is much of sideways movement more than anything else. Analysts believe that the markets are likely to trade in a range for the coming sessions. Here are a few penny stocks that are in action. We do not recommend buying any penny stocks, as most of them lack fundamentals.

The committee will be advising the Administrator on the operations of the SIFL and SEFL during the corporate insolvency resolution process.

The Sensex and Nifty are poised to open higher on Wednesday, following a strong finish at Wall Street overnight and positive trends at SGX Nifty futures.

Based on the open interest future percentage, a long unwinding was seen in 112 stocks including Jubilant Foodworks, Pfizer, Tata Power, Alkem Laboratories, and Syngene International.

The weekly trading set up suggests 17,800 would be the immediate hurdle for Nifty. If it succeeds to trade above the same, we can expect a pullback rally up to 17,920-18,000-18,070, says Shrikant Chouhan of Kotak Securities.

In another transaction, Davos International Fund sold 125,438 shares of Kavveri Telecom Products at Rs. 6.25 apiece through a bulk deal on the NSE.

Indian share market benchmarks were trading volatile, where BSE Sensex and Nifty 50 gyrated in both directions on Friday.

BSE Sensex and Nifty 50 were trading at day's lows on Thursday, as sell-off intensified on D-Street on F&O expiry day.

BSE Sensex and Nifty 50 were trading range-bound on Wednesday, a day before weekly options expiry, and monthly derivative expiry.